Gold futures price marginally up on global cues

Tracking a firm global trend,gold prices rose by Rs 37 to Rs 31,358 per 10 grams in futures trade.

Written by Agencies | New Delhi | Published: October 12, 2012 12:42:12 pm

Tracking a firm global trend,gold prices rose by Rs 37 to Rs 31,358 per 10 grams in futures trade today as speculators created fresh positions. The trading sentiment bolstered after gold advanced in global markets,as holdings in bullion-backed exchange traded products climbed to a record on speculation that central banks may implement more stimulus to spur growth.

At the Multi Commodity Exchange,gold for delivery in December rose by Rs 37,or 0.12 per cent,to Rs 31,358 per 10 grams in business turnover of 3,969 lots. Similarly,the metal for delivery in February moved up by Rs 35,or 0.11 per cent,to Rs 31,704 per 10 grams in 112 lots.

Market analysts attributed the rise in gold futures to firm global trend.

Meanwhile,gold climbed 0.2 per cent to USD 1,771.30 an ounce in Singapore.

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