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Gold futures regain 30k level on festive demand

PTI  New Delhi, July 25, 2012
First Published: 12:59 IST(25/7/2012) | Last Updated: 13:03 IST(25/7/2012)

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

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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