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Gold futures up 0.5% on firm global cues

Prices went up as speculators enlarged positions

Press Trust of India New Delhi
Gold futures for April rose by Rs 146, or 0.52%, to Rs 29,521 per 10 gm in 2,054 lots.

At the Multi Commodity Exchange (MCX), the June contract moved up by Rs 145, or 0.48%, to Rs 30,078 per 10 gm in 128 lots.

Prices went up as speculators enlarged positions.

Euro-zone fears returning on news that Cyprus was planning to tax bank depositors as part of a controversial bailout that triggered demand for the safe haven influenced gold futures trade here.

In Singapore, gold rose by 0.30% to $1,596.95 an ounce after jumping to $1,608.60, the most expensive since February 27 in early trade today.
 

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First Published: Mar 18 2013 | 2:07 PM IST

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