Gold futures up Rs 154 as participants create position

Gold prices rose by Rs 154 to Rs 32,154 per 10 gram in futures trading Wednesday as speculators widened their bets, tracking a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in April was trading higher by Rs 154, or 0.48 per cent, at Rs 32,154 per 10 gram in a business turnover of 9,276 lots.

Similarly, the June contracts of the precious metal was trading up Rs 171, or 0.53 per cent, at Rs 32,432 per 10 gram with a business volume of 9,970 lots.

Analysts said raising of bets by participants, taking positive cues from global market as weakness in dollar raised demand for the precious metal as a safe-haven, mainly pushed up the gold prices at futures trade here.

Globally, gold rose 0.66 per cent to trade at USD 1,304.89 an ounce in Singapore.