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Gold moves up in futures trade on global cues

PTI  New Delhi, November 23, 2012
First Published: 12:56 IST(23/11/2012) | Last Updated: 12:59 IST(23/11/2012)

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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