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Gold futures rise Rs 69 at Rs Rs 38,105 per 10 gm on global cues

Press Trust of India  |  New Delhi 

Gold prices rose by Rs 69 to Rs 38,105 per 10 gram in futures trade on Wednesday 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 69, or 0.18 per cent, at Rs 38,105 per 10 gram in a business turnover of 2,695 lots.

Gold for delivery in February next year also edged up by Rs 61, or 0.16 per cent, at Rs 38,400 per 10 gram in a business turnover of 83 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 0.24 per cent up at USD 1,487.10 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: Wed, October 16 2019. 12:20 IST