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India gold futures up on record high crude
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Posted on
May 09 2008 7:09 AM
by
adeal
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India's gold futures were up on Friday as a record high crude oil stoked inflationary fears and a weaker dollar pushed more investors to gold. "The market looks up but if crude tops out, there could be selling pressure," said Vikas Vaid, assistant vice president at Asit C. Mehta Commodity Services Pvt Ltd. The benchmark June gold on the Multi Commodity Exchange of India Ltd (MCX) was seen trading within 11,750 rupees and 11,930 rupees per 10 grams, said an analyst at IL&FS Investsmart Commodities Ltd.
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