Gold futures rise near Rs 1.55 Lakh as crude oil prices ease

Gold futures edged up to nearly Rs 1.55 lakh per 10 grams in a range-bound trade on Tuesday as a decline in crude oil prices provided relief to the bullion market, though concerns over inflation and higher interest rates capped gains.

On the Multi Commodity Exchange, the yellow metal for August delivery rose by Rs 131 to Rs 1,54,915 per 10 grams, with a business turnover of 8,693 lots.

Gold prices advanced marginally,



driven by easing tensions in West Asia despite ongoing fears of interest rate hikes due to persistent inflation, which has tempered the demand, Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.

Meanwhile, crude oil prices dropped nearly 2 per cent and slipped below the USD 90 per barrel in the international markets. In the overseas markets, Comex gold futures for August delivery traded marginally lower at USD 4,350.47 per ounce in New York.