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This is an archive article published on April 13, 2012

Gold futures rise on firm global cues

Buoyed by a firming trend in global markets,gold prices rose by Rs 39 to Rs 28,781 per 10 gm in futures trade today as speculators created fresh positions.

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Buoyed by a firming trend in global markets,gold prices rose by Rs 39 to Rs 28,781 per 10 gm in futures trade today as speculators created fresh positions.

At the Multi Commodity Exchange,gold for delivery in June month rose by Rs 39,or 0.14 per cent,to Rs 28,781 per 10 gm in business turnover of 5,782 lots.

Similarly,the metal for delivery in August contract moved up by Rs 38,or 0.13 per cent,to Rs 29,172 per 10 gm in 148 lots.

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Market analysts said reports of a firming global trend where the precious metal rose on speculation that the Federal Reserve may increase stimulus measures to bolster the US economy mainly led to rise in gold prices at futures trade.

Meanwhile,gold rose by 1.2 per cent to 1,680.60 dollar an ounce,the biggest jump since March 26 in New York last night.

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