Gold & Silver

Gold futures rise to Rs 31,537 on global cues

PTI New Delhi | Updated on November 09, 2012 Published on November 09, 2012

gold ring

Gold prices rose Rs 197 to Rs 31,537 per 10 gm at the futures trade today as speculators enlarged their positions driven by firming global trend.

Pick-up in demand at the spot market due to festive season further fuelled the uptrend.

At the Multi Commodity Exchange, gold for delivery in December rose Rs 197 or 0.63 per cent to Rs 31,537 per 10 gm in a business turnover of 9,338 lots.

Similarly, the metal for delivery in the February contract moved up by Rs 183 or 0.58 per cent to Rs 31,933 per 10 gm in 492 lots.

Market analysts said increased buying by speculators in tandem with a firming global trend as prospects of more US stimulus and the debt crisis in Europe boosted the demand for the metal.

They said pick-up in demand at the spot market due to festive season also supported the uptrend.

Meanwhile, gold increased 0.4 per cent to $1,738.19 an ounce, the most expensive since October 19 in Singapore.

Published on November 09, 2012
This article is closed for comments.
Please Email the Editor