Gold futures up on firm global cues

Written by Agencies | New Delhi | Updated: Feb 29 2012, 18:30pm hrs
Gold futuresGold futures up on firm global cues
Gold futures rose 0.12 per cent to Rs 29,286 per 10 gm today, as speculators enlarged their positions on the back of a firming global trend.

At the Multi Commodity Exchange, gold for delivery in June rose by Rs 34, or 0.12 per cent, to Rs 29,286 per 10 grams, with a business turnover of 110 lots.

Similarly, the metal for delivery in April moved up by Rs 27 to, or 0.09 per cent to Rs 28,902 per 10 grams, with a trade volume of 3,345 lots.

Analysts attributed the rise in gold prices to a firm trend in overseas markets where it hit 3-month high, as investors bought precious metals as an alternative to a weakening dollar

Meanwhile, gold touched a 3-month high of USD 1,792.40 an ounce in New York in yesterday's trade.