Gold futures rise marginally on firm global trend

Gold prices rose by Rs 2 to Rs 31,529 per 10 gram in futures trading Friday as speculators widened their bets, tracking a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs 2, or 0.01 per cent, to Rs 31,529 per 10 gram, in a business turnover of 13,984 lots.

Similarly, the far-month April rates of the precious metal was up Rs 3, or 0.01 per cent, at Rs 31,695 per 10 gram, with a business volume of 2,092 lots.

Analysts said raising of bets by participants, taking positive cues from global market as weakness in dollar raised demand for the precious metal as a safe-haven, mainly pushed up gold prices at futures trade here.

 

Globally, gold rose 0.1 per cent to trade at USD 1,246.4 an ounce in Singapore.