The most active August contract was 0.34% higher at Rs14,767 per 10 grams at 10:41am, after hitting a high of Rs14,783
Mumbai: India gold futures recovered from their previous day’s losses on Friday supported by a weak dollar, that makes the dollar-quoted asset expensive, analysts said.
The most active August contract was 0.34% higher at Rs14,767 per 10 grams at 10:41am, after hitting a high of Rs14,783.
The Indian rupee fell for the second straight day as dollar demand from state-run banks for oil and defence-related import payments outweighed expectations for foreign fund flows into shares.
“Gold may trade extremely sideways with a positive bias. The maximum upside seen is 14,800 rupees,” said Aurobinda Prasad, deputy manager-research, Karvy Comtrade.
