Gold futures regain 30k level on festive demand

  • PTI, New Delhi
  • |
  • Updated: Jul 25, 2012 13:03 IST

Gold futures prices on Wednesday rose by Rs 135 to Rs 30,066 per 10 grams as speculators enlarged their positions on the back of a rise in demand in the spot market amid a firm global trend.

At the Multi Commodity Exchange, gold for delivery in October rose by Rs 135, or 0.45% to Rs 29,931 per 10
grams in a business turnover of 1,633 lots.

Similarly, the metal for delivery in August moved up by Rs 119, or 0.40%, to Rs 29,687 per 10 grams in 6,478
lots.

Market analysts attributed the rise in gold futures prices to increased buying by speculators on the back of a rise in demand in the spot market in view of festive season.

They said firming global trend also supported the uptrend in gold.

Meanwhile, gold rose 0.3% to $1,585.40 an ounce in Singapore.

 

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