Gold moves up in futures trade on global cues

  • PTI, New Delhi
  • |
  • Updated: Nov 23, 2012 12:59 IST

Gold prices rose by Rs 76 to Rs 31,925 per 10 gm in futures trade on Friday as speculators created fresh positions, taking a positive cues from overseas markets.

At the Multi Commodity Exchange, gold for delivery in December rose by Rs 76, or 0.24%, to Rs 31,925 per 10 gm in business turnover of 4,550 lots.

Similarly, the yellow metal for delivery in the February contract moved up by Rs 62, or 0.19%, to Rs 32,293 per 10 gm in 1,066 lots.

Market analysts said fresh buying by speculators in tandem with a firm global trend after investors boosted holdings to an all-time high and central banks added to reserves as Europe's debt crisis persisted mainly led to rise in gold futures.

Meanwhile, gold rose by 0.11% to $1731.60 an ounce in Singapore.

 

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