India gold futures up on record high crude
MUMBAI, May 9 (Reuters) - 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.
The open interest for June gold was at 8,228 lots, down from 8,207 on Thursday. Volume on the previous day was 34.43 kg.
Following are gold prices in rupees per 10 grams on the Multi Commodity Exchange of India Ltd. at 10:42 a.m. <0#MAU:>:
Contract Current price Net change
===============================================
June 11,845 13
August 11,904 10
For a technical look at international spot gold, double click www.reutersindia.net/gold.htm)
(Reporting by Ruchira Singh; Editing by Prem Udayabhanu)
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