Akshaya Tritiya: Gold trades at a high, touches R 28,813
Gold traded at a high on Tuesday on the back of increased buying on account of Akshaya Tritiya, with the price of the yellow metal touching Rs 28,813 in early afternoon.
The trend also rubbed off on futures, which rose 0.22% to Rs 29,242 per 10 grams, even as the metal weakened overseas.
At the Multi Commodity Exchange, gold for delivery in far-month August rose by Rs 63, or 0.22%, to Rs 29,242 per 10 grams, with a business turnover of 77 lots.
In a similar fashion, the metal for delivery in June moved up by Rs 61, or 0.21%, to Rs 28,842 per 10 grams, with a trade volume of 1,284 lots.
Market analysts said the rise in gold futures was mainly due to a firming trend in spot markets on increased buying activity, driven by Akshaya Tritiya, considered as an auspicious day for buying the precious metal.