Gold futures up on firm global cues

Gold futures prices today rose by 0.52% to Rs 29,521 per 10 grams as speculators enlarged their positions, driven by a firming trend in the Asian region.

At the Multi Commodity Exchange, the April contract for gold rose by Rs 146, or 0.52%, to Rs 29,521 per 10 gm in business turnover of 2,054 lots.

The June contract moved up by Rs 145, or 0.48%, to Rs 30,078 per 10 gm in a turnover of 128 lots.

Market analysts said a firming trend in the global market as euro zone fears returned on news that Cyprus was planning to tax bank depositors as part of a controversial bailout, triggering demand for the safe haven, mainly influenced gold futures here
 

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