Gold gains 0.4% on global cues
Speculation that central banks may take action to stimulate their economies helps price surge
Gold prices rose by Rs 128 to Rs 30,160 per 10 grams in futures trading today as speculators created fresh positions, tracking a firm global trend.
At the Multi Commodity Exchange, gold for delivery in October rose by Rs 128, or 0.43%, to Rs 30,160 per 10 grams, with a business turnover of 4,406 lots.
December gold moved up by Rs 122, or 0.40%, to Rs 30,505 per 10 grams in 141 lots.
Marketmen said the rise in gold futures was due to a firm global trend on speculation that central banks including the US Federal Reserve may take more action to stimulate their economies.
Meanwhile, gold gained 0.3% to $1,625 an ounce in Singapore in early trade today.