Gold futures gain 0.43% in evening trade

Gold futures rose to Rs 45,100 per 10 gram on May 1 as participants increased their long positions.

The yellow metal gained on weak economic data from the United States.

In the futures market, gold rate touched an intraday high of Rs 45,246 and an intraday low of Rs 44,750 on MCX. For the June series, the yellow metal touched a low of Rs 36,572 and a high of Rs 47,327.

Gold futures for delivery in June gained Rs 194, or 0.43 percent on the MCX trading at Rs 45,100 per 10 gram in evening trade in a business turnover of 14,085 lots. Gold contracts for August delivery rose Rs 153, or 0.34 percent, at Rs 45,207 per 10 gram in a business turnover of 5,827 lots.

The value of the June contract traded so far is Rs 1,656.37 crore and August contract saw the value of Rs 87.41 crore.

Similarly, Gold Mini contract for June jumped Rs 164, or 0.37 percent at Rs 45,093 in a business turnover of 9,136 lots.

The spot gold/silver ratio currently stands at 113.52 to 1, which means the amount of silver required to buy one ounce of gold.

At 14:45 pm (GMT), spot gold was up by $0.70 at $1,687.28 an ounce in London trading.