Gold futures were trading marginally higher on MCX as traders enlarged their positions, tracking firming trend in spot market on increased demand for jewellery, coins and gold bars. Besides, a firming trend in overseas markets after a rise in consumer prices in the U.S. boosted the appeal of the yellow metal, a hedge against inflation, also influenced the domestic gold prices. However, some investors awaited clear direction from the Federal Reserve regarding its stimulus measures which could impact the sentiment.The contract for August delivery was trading at Rs 26539.00/10 GRMS, up by 0.26% or Rs 70.00 from its previous closing of Rs 26469.00/10 GRMS. The open interest of the contract stood at 12643.00 lots
The contract for October delivery was trading at Rs 26638.00/10 GRMS, up by 0.16% or Rs 43.00 from its previous closing of Rs 26595.00/10 GRMS. The open interest of the contract stood at 4681 lots on MCX.
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