Gold futures rise 0.29% in Muhurat trading

Gold futures rose 0.29 per cent to Rs 29,654 per 10 grams in special Muhurat trading on the Multi Commodity Exchange today as participants built up fresh positions to mark the start of Samvat 2074.

A firm trend in global markets also influenced gold prices here.

The Multi Commodity Exchange (MCX) remained closed for morning session on account of Diwali.

At the MCX, gold for delivery in December rose by Rs 86, or 0.29 per cent, to Rs 29,654 per 10 grams in business volume of 557 lots.

The precious metal for delivery in far-month February 2018 rose by a similar margin to trade at Rs 29,665 per 10 grams, with a business turnover of 35 lots.

Market participants said widening of fresh positions by participants, who opened their new accounts on the first session of Samvat year 2074 and a firm trend overseas, mainly led to a modest rise in gold prices in futures trade here.

Globally, gold traded higher by 0.34 per cent at USD 1,284.80 an ounce in New York today.