Gold futures up Rs 161 to trade over 30k-level
Gold prices extended gains to trade over Rs 30,000 per 10 grams in futures trading today as speculators enlarged their positions, tracking a firming global trend.business Updated: Jun 05, 2012 19:33 IST
Gold prices extended gains to trade over Rs 30,000 per 10 grams in futures trading on Tuesday as speculators enlarged their positions, tracking a firming global trend.
Gold, which commenced the day higher, advanced further by 161 to Rs 30,079 per 10 grams on speculators enlarging their position in line with firming overseas trend.
The market sentiment bolstered as gold in New York rose on speculation that policy makers will take measures to stimulate economic growth as finance ministers and central banks from the Group of seven nations plan to discuss Europe's debt crisis.
At the Multi Commodity Exchange, gold for delivery in August rose by Rs 161, or 0.54%, to Rs 30,079 per 10 grams, with a business turnover of 14,476 lots.
Likewise, the metal for delivery in June moved up by Rs 197, or 0.66%, to Rs 29,865 per 10 grams in 172 lots.
Market analysts said increased buying by speculators on the back of a firming global trend mainly helped gold prices to trade higher at futures trade.