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This is an archive article published on August 2, 2012

Gold prices rise on global cues

Gold prices in August rose by Rs 74 to Rs 29,681 per 10 gram.

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Gold prices rose by Rs 74 to Rs 29,681 per 10 grams in futures trade as speculators created fresh positions,tracking a firm trend in overseas markets.

At the Multi Commodity Exchange,gold for delivery in August rose by Rs 74,or 0.25 per cent to Rs 29,681 per 10 grams in business turnover of 341 lots.

Similarly,the metal for delivery in October declined by Rs 34,or 0.11 per cent,to Rs 30,048 per 10 grams in business volume of 7,633 lots.

Market analysts said fresh buying by speculators in tandem with a firm global trend mainly led to rise in gold futures.

Meanwhile,gold rose 0.2 per cent to USD 1,602.85 an ounce in London.

 

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