Gold futures up Rs 52 as participants create position

Gold prices rose by Rs 52 to Rs 32,952 per 10 gram in futures trading Wednesday 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 52, or 0.16 per cent, to Rs 32,952 per 10 gram, in a business turnover of 5,523 lots.

Similarly, the April rate of the precious metal was up by Rs 31, or 0.07 per cent, at Rs 32,984 per 10 gram, with a business volume of 115 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 1.01 per cent to trade at USD 1,315.67 an ounce in Singapore.