Gold futures up 0.83% on global cues

Traders create fresh positions, as dollar extends decline and investors assess whether Fed will pare stimulus

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Gold prices rose by 0.83 per cent to Rs 29,324 per ten grams in futures trade today as speculators created fresh positions, tracking a firm global trend.

At the Multi Commodity Exchange, gold for delivery in April rose by Rs 239, or 0.83 per cent, to Rs 28,650 per ten grams in a business turnover of 91 lots.
    
February gold added Rs 207, or 0.71 per cent, to Rs 29,117 per ten grams in 3,919 lots.
    
Analysts said speculators created fresh positions, tracking a firm global trend as the dollar extended its decline and investors assessed whether the Federal Reserve will pare stimulus after hints of a reduction from policy makers, mainly influenced gold prices at futures trade.
    
Meanwhile, gold advanced 0.6 per cent to $1,247.40 an ounce in Singapore.