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Gold futures gain Rs 230 on global cues

Press Trust of India  |  New Delhi 

Gold prices on Friday rose Rs 230 to Rs 37,805 per 10 gram in futures trade as speculators widened their bets on spot demand, tracking a firm trend overseas.

On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 230, or 0.61 per cent, at Rs 37,805 per 10 gram in a business turnover of 2,040 lots.

Gold for delivery in February next year also edged up by Rs 257, or 0.68 per cent, at Rs 37,875 per 10 gram in 228 lots.

Analysts said the rise in gold prices was mostly on the back of fresh positions built by participants on strong overseas trend.

Globally, gold price was quoting 0.29 per cent up at USD 1,470.70 an ounce in New York.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 08 2019. 12:55 IST