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This is an archive article published on October 17, 2012

Gold future prices up on firm global cues

Gold prices rose as much as 0.30 per cent to USD 1,753.25 an ounce in Singapore.

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Taking positive cues from the global market,gold prices rose marginally by 0.14 per cent to Rs 31,084 per 10 grams in futures trade today as speculators indulged in creating fresh positions.

At the Multi Commodity Exchange,gold for delivery in December moved up by Rs 44,or 0.14 per cent,to trade at Rs 31,084 per 10 grams,with a turnover of 631 lots.

Similarly,gold for February delivery gained Rs 40,or 0.13 per cent,to Rs 31,423 per 10 grams,with a business volume of 85 lots.

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Marketmen said gains in gold prices at futures trade was mostly due to a firming trend overseas before European Union leaders hold a summit this week amid speculation that Spain may accept credit from a rescue fund,weakening the dollar,

which raised appeal for the precious metals.

Globally,gold rose as much as 0.30 per cent to USD 1,753.25 an ounce in Singapore.

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