Gold futures up 0.2% on global cues

Gold futures traded a shade higher at Rs 30,206 per ten gram today as participants enlarged positions amid a firming trend overseas.

 

Besides, covering-up of short positions by speculators also supported the upside.

 

At the Multi Commodity Exchange, metal for delivery in December contract gained Rs 60, or 0.20%, to trade higher at Rs 30,206 per 10 gram in a turnover of 708 lots.

 

Similarly, the metal for delivery in far-month February next year contracts moved up by Rs 45, or 0.15%, to Rs 29,901 per 10 gram, clocking a business volume of 19 lots.

 

Analysts said rise in the global markets on expectations the US Federal Reserve will maintain its aggressive stimulus after a government shutdown hurt the economy, influenced gold prices at futures trade here.

 

Globally, gold gained 0.1% to $1,344.50 an ounce in Singapore today.