MUMBAI: Gold futures edged higher on Thursday tracking a rise in international gold prices, analysts said. International gold kept climbing for
the third straight session on Thursday, though it struggled to rise decisively above $940 per ounce as a halt in the slide of the dollar curbed buying.
On Wednesday, gold rose as the dollar fell versus most other major currencies after an unexpectedly small rise in U.S. inflation and a debt rating downgrade for U.S. banks from Standard & Poor's.
"It seems rally in gold has begun...now it can go up to 14,650 rupees (per 10 gm) levels," said Amrut Deshmukh, senior analyst with Way 2 Wealth Securities Ltd. At 11:04 a.m., Comex August gold was up 0.29 percent at $938.7 an ounce.
