Gold price futures marginally up global cues,spot demand

Gold futures prices today rose marginally by 0.11 per cent to Rs 31,863 per 10 grams as speculators enlarged positions,taking positive cues from global markets.

Written by Agencies | New Delhi | Published: September 5, 2012 3:22 pm

Gold futures prices today rose marginally by 0.11 per cent to Rs 31,863 per 10 grams as speculators enlarged positions,taking positive cues from global markets.

Further,an upward trend at the domestic spot markets on the back of buying activity ahead of marriage season,too supported the upside.

At the Multi Commodity Exchange,gold for delivery in December rose by Rs 35,or 0.11 per cent,to Rs 31,863 per 10 grams,with a business turnover of 984 lots.

In a similar fashion,the metal for delivery in October moved up by Rs 33,or 0.10 per cent,to Rs 31,482 per 10 grams in 13,108 lots.

Gold,in the national market,rose by Rs 130 to trade a new high of Rs 31,980 per 10 grams.

Marketmen said the rise in gold futures was mainly due to a firm global trend,where it reached USD 1,699.05 an ounce,the highest since March 13.

Besides,firm demand at domestic spot markets also supported the upside,they added.

Meanwhile,gold gained 0.21 per cent to USD 1,696.209 an ounce in New York yesterday.

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