Monday, October 19News That Matters

Gold futures up Rs 34 as participants create position

New Delhi, Nov 22 (PTI) Gold prices rose by Rs 34 to Rs 30,859 per 10 gram in futures trading Thursday as speculators widened their bets, tracking a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 34,or 0.11 per cent, to Rs 30,859 per 10 gram, in a business turnover of 676 lots.

Similarly, the February rates of the precious metal was up by Rs 23, or 0.07 per cent, at Rs 31,097 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 0.11 per cent to trade at USD 1,228 an ounce in Singapore

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