Gold futures rise marginally to Rs 30,835

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Taking positive cues from the global market, gold prices rose marginally by 0.2 per cent to Rs 30,835 per 10 grams at the futures trade today as speculators created fresh positions.

Besides, a firming trend at the domestic spot market on the back of a hike in import duty to 6 per cent from 4 per cent and wedding season demand also supported the upside.

At the Multi Commodity Exchange, gold for delivery in February moved up by Rs 63 or 0.2 per cent to trade at Rs 30,835 per 10 grams with a turnover of 1,993 lots.

Similarly, the yellow metal for delivery in April gained Rs 38 or 0.12 per cent to Rs 31,410 per 10 grams with a business volume of 492 lots.

Marketmen said the gains in gold prices at the futures trade was mostly in line with a firming trend in the global and domestic spot markets.

Globally, gold traded a shade higher at $1,693.55 an ounce in early trade in Singapore.

(This article was published on January 23, 2013)
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