Gold futures rise 0.32% on positive overseas trend
Tracking firm overseas trend, gold prices advanced 0.32 per cent to Rs 29,034 per 10 grams in futures trade today as speculators created fresh positions.
At the Multi Commodity Exchange, gold for delivery in February rose Rs 92, or 0.32 per cent, to Rs 29,034 per 10 grams in business turnover of 429 lots.
On similar lines, the yellow metal for delivery in April contracts was trading Rs 81, or 0.28 per cent, higher at Rs 29,035 per 10 grams in 16 lots.
Market analysts attributed the rise in prices to a firm trend in global market where the commodity advanced as the USD declined, boosting demand for the metal as an alternative asset.
Globally, gold rose 0.19 per cent to USD 1,289.30 an ounce in Singapore.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)