Gold futures up on firm global cues

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Gold prices rose marginally by 0.30% to Rs 31,834 per 10 grams in futures trade. (Reuters) Gold prices rose marginally by 0.30% to Rs 31,834 per 10 grams in futures trade. (Reuters)
SummaryGold prices rose marginally by 0.30% to Rs 31,834 per 10 grams in futures trade.

Taking positive cues from the global market, gold prices rose marginally by 0.30 per cent to Rs 31,834 per 10 grams in futures trade today as speculators created fresh positions.

At the Multi Commodity Exchange, gold for delivery in April moved up by Rs 95, or 0.30 per cent, to trade at Rs 31,834 per 10 grams, with a turnover of 85 lots. Similarly, gold for February delivery gained Rs 86, or 0.27 per cent, to Rs 31,418 per 10 grams, with a business volume of 2,246 lots.

Marketmen said gains in gold prices at futures trade was mostly due to a firming trend overseas on the optimism that US lawmakers will reach an agreement on the budget to avert automatic spending cuts.

Globally, gold rose 0.30 per cent to USD 1,702.40 an ounce in early trade in Singapore.

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