Gold futures trade up on firm global cues

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Buoyed by a firm global trend and rising spot demand, gold prices rose by 0.61 per cent to Rs 29,111 per 10 gm. Reuters Buoyed by a firm global trend and rising spot demand, gold prices rose by 0.61 per cent to Rs 29,111 per 10 gm. Reuters
SummaryGold prices rose by 0.61 per cent to Rs 29,111 per 10 gm in futures trade.

Buoyed by a firm global trend and rising spot demand, gold prices rose by 0.61 per cent to Rs 29,111 per 10 gm in futures trade today as speculators enlarged their positions.

At the Multi Commodity Exchange, gold for delivery in April rose by Rs 176, or 0.61 per cent, to Rs 29,111 per 10 gm in a business turnover of 275 lots.

Similarly, the yellow metal for delivery in June traded higher by Rs 140, or 0.49 per cent, to Rs 28,697 per 10 gm in 15 lots.

Analysts said a firming trend in the global markets as investors assessed further cuts to US monetary stimulus and Chinese buyers resumed purchases to extend last year's record consumption, influenced gold futures here.

Meanwhile in Singapore, gold rose 0.80 per cent to USD 1,284.34 an ounce, the highest price since November.

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