Gold price rises in futures trade on global cues

Mumbai-India (Apr 11)  Gold prices rose 0.53 per cent to Rs. 29,284 per 10 grams in futures trade today as speculators raised their bets, taking positive cues from global markets.

At the Multi Commodity Exchange, gold for delivery in June was up by Rs. 153 or 0.53 per cent to Rs. 29,284 per 10 gm in a business turnover of 429 lots.

The metal for delivery in August moved up by Rs. 149 or 0.51 per cent to Rs. 29,450 per 10 gm in a turnover of four lots.

Market analysts said rise in gold prices at futures trade was largely in step with a firm trend overseas as global economic-growth concerns boosted the metal’s appeal as a haven asset.

Globally, gold climbed as much as 1.07 per cent to USD 1,251.70 an ounce in Singapore today.

Source: TheHindu