Business Standard

Gold futures rise marginally on global cues

Rising spot demand for the festive season supports rise

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Press Trust of India New Delhi

Amid a firm global trend and festive demand in the spot market, gold futures prices traded marginally higher at Rs 30,902 per 10 grams today on fresh buying by speculators.

At the Multi Commodity Exchange, gold for delivery in December rose by Rs 8, or 0.03%, to Rs 30,902 per 10 grams, with a business turnover of 15,122 lots.

February gold traded higher by the same margin to Rs 31,305 per 10 grams in 596 lots.

Traders said fresh buying by speculators on rising festive season demand in the spot markets amid a firm global trend pushed up gold prices in futures trade.

 

Meanwhile, gold advanced 0.3% to $1,690.78 in London as the dollar weakened before the US presidential election that may determine the direction of monetary and fiscal policy in the largest economy.

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First Published: Nov 06 2012 | 5:50 PM IST

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