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Gold a shade higher in futures trade on global cues

PTI  New Delhi, December 31, 2012
First Published: 12:38 IST(31/12/2012) | Last Updated: 12:39 IST(31/12/2012)

Taking positive cues from the global market, gold prices rose marginally by 0.15% to Rs. 31,226 per 10 grams in futures trade on Monday as speculators created fresh positions.


At the Multi Commodity Exchange, gold for delivery in April moved up by Rs. 48, or 0.15%, to trade at Rs. 31,226 per 10 grams, with a turnover of 275 lots.

Similarly, gold for February delivery gained Rs. 39, or 0.13%, to Rs. 30,736 per 10 grams, with a business volume of 3,641 lots.

Marketmen said gains in gold prices at futures trade was mostly in line with a firming trend overseas as US lawmakers struggled to reach a budget deal before automatic tax increases and spending cuts start to take effect from Tuesday, boosting demand for a safe haven.

Globally, gold rose $6.50, or 0.39% to $1,662.80 an ounce in early trade in Singapore.

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