Gold futures prices up on global cues

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SummaryTracking a firm global trend, gold traded a shade higher by 0.13 per cent to Rs 30,902 per ten grams in futures trade.

Tracking a firm global trend, gold traded a shade higher by 0.13 per cent to Rs 30,902 per ten grams in futures trade today as speculators enlarged positions.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 39, or 0.13 per cent to Rs 30,902 per ten grams in business turnover of 7,722 lots. Likewise, the metal for delivery in April traded higher by Rs 28, or 0.09 per cent to Rs 31,464 per ten grams in 644 lots.

Market analysts said speculators enlarged their positions, tracking a firm global trend on signs of increased demand in China and as the dollar weakened.

Meanwhile, gold rose by 0.4 per cent to 1,653.05 dollar an ounce in Singapore.

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