Gold futures extend gains on strong demand

Gold futures extended their gains on MCX on the back of strong festive season demand from jewellers and retailers. The sentiments improved further after soft US data knocked the dollar lower against a basket of currencies and weighed on stock markets, boosted the metal's appeal as an alternative asset. The contract for December delivery was trading at Rs 27418.00, up by 0.61% or Rs 166.00 from its previous closing of Rs 27252.00. The open interest of the contract stood at 7971.00 lots. The contract for February delivery was trading at Rs 27582.00, up by 0.61% or Rs 166.00 from its previous closing of Rs 27416.00. The open interest of the contract stood at 747.00 lots on MCX.