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This is an archive article published on September 25, 2012

Gold futures marginally up on strong global cues

Gold prices traded marginally higher by 0.09 per cent to Rs 31,461 per 10 grams in futures trade.

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Tracking a firm global trend,gold prices traded marginally higher by 0.09 per cent to Rs 31,461 per 10 grams in futures trade today as speculators created fresh position.

The trading sentiment improved after gold rose in global markets on speculation moves by central banks to bolster economic growth will spur demand.

At the Multi Commodity Exchange,gold for delivery in October rose by Rs 28,or 0.09 per cent,to Rs 31,461 per 10 grams in business turnover of 11,091 lots. Likewise,the yellow metal for delivery in December traded higher by Rs 30,or 0.09 per cent,to Rs 31,758 per 10 grams in 1,601 lots.

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Market analysts attributed the rise in gold futures to firm global trend and domestic demand for the marriage season.

Meanwhile,gold rose 0.1 per cent to USD 1,765.70 an ounce in London.

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