Gold goes up Rs 104 on positive global cues
Gold prices went rose by Rs 104 to Rs 30,554 per 10 gram in futures trade Friday after speculators raised bets, driven by a firming global trend.
At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 104, or 0.34 per cent, to Rs 30,554 per 10 gram in a business turnover of 133 lots.
Analysts attributed the rise in gold prices in futures trade here to raising of bets by investors tracking a firming trend overseas as softer-than-expected US consumer prices data dimmed the case for a faster pace of policy tightening by the Federal Reserve.
Meanwhile, gold was trading 0.27 per cent higher at USD 1,204.20 an ounce in Singapore today.
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