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Gold futures rise on global cues

Fresh positions built-up by speculators in tandem with a firm global trend as the US debt ceiling weakened the dollar

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rose by Rs 63 to Rs 30,803 per 10 gm in futures trade today as speculators created fresh positions, taking positive cues from overseas markets.

At the Multi Commodity Exchange, February gold rose by Rs 63, or 0.20%, to Rs 30,803 per 10 gm, with a business turnover of 3,323 lots.

The April delivery moved up by Rs 60, or 0.19%, to Rs 31,467 per 10 gm, with a of 160 lots.

Marketmen said fresh positions built-up by speculators in tandem with a firm global trend as the US debt ceiling weakened the dollar, boosting appeal for the metal, mainly led to a rise in gold futures prices.

Globally, the gold in Singapore climbed 0.4% to $1,674 an ounce.

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