Gold futures trade higher on global cues
Prices rose as speculators created fresh positions
Gold prices rose marginally by 0.15% to Rs 31,226 per 10 grams in futures trade today as speculators created fresh positions.
At the Multi Commodity Exchange, the April contract moved up by Rs 48, or 0.15%, to trade at Rs 31,226 per 10 grams, with a turnover of 275 lots.
Similarly, the February contract gained Rs 39, or 0.13%, to Rs 30,736 per 10 grams, with a business volume of 3,641 lots.
Marketmen said, a firming trend overseas as US lawmakers struggled to reach a budget deal before automatic tax increases and spending cuts start to take effect from tomorrow, influenced the prices.
Globally, gold rose $ 6.50, or 0.39% to $ 1,662.80 an ounce in early trade in Singapore.