Gold futures rise 0.49 pc on global cues

Gold prices rose 0.49 per cent to Rs 29,853 per 10 grams in futures trade today as participants created fresh positions, tracking a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in December rose by Rs 146, or 0.49 per cent, to Rs 29,853 per 10 grams, in a business turnover of 360 lots.
The yellow metal for delivery in February moved up by a similar margin to trade at Rs 29,950 per 10 grams in 2 lots.
Analysts said traders built up fresh positions in line with a firm global trend, which supported the upside in gold prices at futures trade here.

Globally, gold rose 0.26 per cent to USD 1,294.40 an ounce in Singapore.