Gold prices rise by 0.38% in futures trades

Written by Press Trust of India | New Delhi | Updated: May 31 2013, 17:03pm hrs
GoldImage (Reuters)
Gold prices moved up by Rs 104, or 0.38 per cent to Rs 27,262 per 10 gm in futures trade as speculators engaged in building up positions taking positive cues from the global market amid firm spot demand.

At the Multi Commodity Exchange, gold for delivery in June up by Rs 104, or 0.38 per cent, to Rs 27,262 per 10 gm in business turnover of 2,994 lots.

The metal for delivery in far-month August contracts moved up by Rs 71, or 0.26 per cent, to Rs 27,474 per 10 gm in a turnover of 1,629 lots.

Analysts said a firming trend in global market, where gold climbed a two-week high on speculation that the US Federal Reserve will maintain record stimulus to bolster growth, influenced gold prices at futures trade here.

Meanwhile, gold rose by 0.60 per cent to USD 1,422.10 an ounce in Singapore.