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Gold prices rose by Rs 87 to Rs 30,859 per 10 gram in futures trading on Wednesday 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 87, or 0.27 per cent, to Rs 30,859 per 10 gram, in a business turnover of 676 lots. Similarly, the April rate of the precious metal was up by Rs 88, or 0.27 per cent, at Rs 32,391 per 10 gram, with a business volume of 115 lots.
Analysts said raising of bets by participants, taking positive cues from global market as weakness in dollar raised demand for the precious metal as a safe haven, mainly pushed up gold prices at futures trade here. Globally, gold rose 0.11 per cent to trade at $ 1,228 an ounce in Singapore.
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