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Gold prices rose by Rs 120 to Rs 32,000 per 10 gram in futures trade on Friday as speculators widened their bets, tracking a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs 120, or 0.38 per cent, to Rs 32,000 per 10 gram, in a business turnover of 13,971 lots. Similarly, the March rates of the precious metal edged higher by Rs 136, or 0.43 per cent, to Rs 32,108 per 10 gram with a business volume of 115 lots.
Analysts said raising of bets by participants, taking positive cues from global markets as weakness in dollar raised demand for the precious metal as a safe-haven, mainly pushed up gold prices. Globally, gold rose 0.11 per cent to trade at USD 1,228 an ounce in Singapore.
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