Riding on firm global trends and increased buying by domestic jewellers to meet festive season demand, gold prices surged by Rs 310 to Rs 31,280 per ten grams at the bullion market.
Symbol: GOLD| Contract: Oct, 2016| Category: Bullion
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Gold's Latest News
Gold rose for a second day on Wednesday as investors sought hard assets amid a drop in the dollar after a report of weaker U.S. economic data increased expectations that the Federal Reserve would not raise interest rates in the short-term.
Gold mortgage lending Manappuram Finance has posted over twofold jump in consolidated net profit to Rs 160.33 crore in the first quarter ended June of current fiscal.
After two days of losses, gold recovered by Rs 70 to Rs 30,970 per ten grams at the bullion market today on increased buying by jewellers at domestic spot market to meet retailers' demand even as the metal weakened overseas.
Gold held steady early on Tuesday after recovering from one-week lows hit the day before, with the dollar edging down and investors using the correction in prices to hunt for bargains.
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