 "Gold futures surges 0.7% to Rs 30,849/10 gm")
Gold prices rose by Rs 230, or 0.75%, to Rs 30,849 per 10 gm in futures trade even as metal weakened in the global market.
At the Multi Commodity Exchange, gold for delivery in far-month December was up sharply by Rs 230, or 0.75%, to Rs 30,849 per 10 gm in business turnover of 740 lots.
Gold for delivery in October also moved up by Rs 181, or 0.59%, to Rs 31,021 per 10 gm in a turnover of 10,362 lots.
They said, however, a weak trend in the domestic as well as overseas market, capped the gains.
Meanwhile, gold fell 0.27% to $1,373.50 an ounce in London.
At the Multi Commodity Exchange, gold for delivery in far-month December was up sharply by Rs 230, or 0.75%, to Rs 30,849 per 10 gm in business turnover of 740 lots.
Gold for delivery in October also moved up by Rs 181, or 0.59%, to Rs 31,021 per 10 gm in a turnover of 10,362 lots.
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Analysts said the rise in gold prices at futures trade was mostly supported by covering-up of short positions by speculators amid a weakening rupee which depreciated further to a fresh low of 63.30 in fag-end trade against the dollar.
They said, however, a weak trend in the domestic as well as overseas market, capped the gains.
Meanwhile, gold fell 0.27% to $1,373.50 an ounce in London.