Gold up 0.5% on strong global cues
Metal for delivery in December edged up by 0.42%
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Gold prices higher by 0.49% to Rs 29,650 per 10 gram in futures trading today as speculators created fresh positions in line with a firm global trend.
At the Multi Commodity Exchange, gold for delivery in February rose by Rs 145, or 0.49%, to Rs 29,650 per 10 gram in business turnover of 22 lots.
Similarly, the metal for delivery in December edged up by Rs 25, or 0.42%, to Rs 29,918 per 10 gram in 827 lots.
Market analysts said fresh positions built up by speculators in tandem with a firm global trend as the biggest price drop in a month may have lured buyers mainly influenced gold prices at futures trade.
Meanwhile, gold gained 0.3% to $1,326.80 an ounce in Singapore.
At the Multi Commodity Exchange, gold for delivery in February rose by Rs 145, or 0.49%, to Rs 29,650 per 10 gram in business turnover of 22 lots.
Similarly, the metal for delivery in December edged up by Rs 25, or 0.42%, to Rs 29,918 per 10 gram in 827 lots.
Market analysts said fresh positions built up by speculators in tandem with a firm global trend as the biggest price drop in a month may have lured buyers mainly influenced gold prices at futures trade.
Meanwhile, gold gained 0.3% to $1,326.80 an ounce in Singapore.
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First Published: Nov 01 2013 | 2:11 PM IST