Gold futures up on firm global cues

  • PTI, New Delhi
  • |
  • Updated: Jan 14, 2013 12:08 IST

Taking positive cues from the global market, gold futures prices on Monday marginally rose by 0.11% to Rs 31,920 per 10 grams in futures trade as speculators created fresh positions.

At the Multi Commodity Exchange, gold for delivery in April moved up by Rs 34, or 0.11%, to trade at Rs 31,920 per 10 grams, with a turnover of 55 lots.

Similarly, gold for February delivery gained Rs 33, or 0.10%, to Rs 31,487 per 10 grams, with a business volume of 936 lots.

Marketmen said gains in gold prices at futures trade was mostly in tune with a firm trend overseas.

Federal Reserve Bank of Chicago President Charles Evans said the US central bank should keep policy accommodative to support the economy and weakening dollar, raising demand for the precious metal as an alternative investment.

Globally, gold rose $6.50, or 0.3% to $1,667.93 an ounce in early trade in Singapore.

 

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