Gold up by Rs 87 in futures trade

Gold prices rose by Rs 87 to Rs 30,859 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 February was trading higher by Rs 87, or 0.27 per cent, to Rs 30,859 per 10 gram, in a business turnover of 676 lots.

Similarly, the April rate of the precious metal was up by Rs 88, or 0.27 per cent, at Rs 32,391 per 10 gram, with a business volume of 115 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 gold prices at futures trade here.

Globally, gold rose 0.11 per cent to trade at USD 1,228 an ounce in Singapore.