Gold futures up on firm global cues

PTI Updated - January 14, 2013 at 01:07 PM.

Taking positive cues from the global market, gold futures prices today marginally rose by 0.11 per cent to Rs 31,920 per 10 gm today as speculators created fresh positions.

At the Multi Commodity Exchange, gold for delivery in April moved up by Rs 34, or 0.11 per cent, to trade at Rs 31,920 per 10 gm, with a turnover of 55 lots.

Similarly, gold for February delivery gained Rs 33, or 0.10 per cent, to Rs 31,487 per 10 gm, with a business volume of 936 lots.

Marketmen said gains in gold prices at futures trade was mostly in tune with a firm trend overseas.

Federal Reserve Bank of Chicago President Charles Evans said the US central bank should keep policy accommodative to support the economy and weakening dollar, raising demand for the precious metal as an alternative investment.

Globally, gold rose $6.50, or 0.3 per cent to $1,667.93 an ounce in early trade in Singapore.

Published on January 14, 2013 07:37