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Gold futures up on global cues

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Gold futures up on global cues
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New Delhi: Gold prices rose by Rs 54 to Rs 32,797 per 10 gm in futures trade today as speculators enlarged their positions, taking positive cues from overseas market.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 54, or 0.16 per cent, to Rs 32,797 per 10 gm in business turnover of 161 lots.

Similarly, the yellow metal for delivery in the December contract moved up by Rs 44, or 0.14 per cent, to Rs 32,403 per 10 gm in 505 lots.

Market analysts attributed rise in gold prices at futures trade to a firming trend in global markets after euro-area finance ministers reached a pact on Greece's debt burden, boosting the euro, and investors raised holdings in exchange-traded products.

They said pick-up in demand in the spot market driven by wedding season further supported the upswing, they said.

Meanwhile, gold advanced 0.2 per cent to USD 1,751.80 an ounce in Singapore.

PTI

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