Tracking a firm global trend, gold prices rose Rs 76 to Rs 31,719 per 10 grams at the futures trade today as speculators created fresh positions.

At the Multi Commodity Exchange, gold for delivery in December rose Rs 76 or 0.24 per cent to Rs 31,719 per 10 grams with a business turnover of 3,422 lots.

Similarly, the metal for delivery in February moved up by Rs 69 or 0.22 per cent to Rs 31,124 per 10 grams with a business turnover of 247 lots.

Marketmen said fresh buying by speculators in tandem with a firm global trend, where gold traded near the highest in three weeks as investors focused on the US budget debate and after data showed Japan’s economy shrank in the third quarter, influenced the gold futures.

Meanwhile, gold climbed 0.3 per cent to $1,736.75 an ounce in Singapore.

(This article was published on November 12, 2012)
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