Gold futures regain 30k level on festive demand

Gold futures prices today 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.

Updated on: Jul 25, 2012 1:03 PM IST

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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
lots.

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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