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Gold futures rise on spot demand

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Press Trust of India New Delhi

Gold futures prices rose by Rs 64 to Rs 29,214 per 10 grams today, as speculators created fresh positions on the back of rising demand in spot market for the ongoing marriage season.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 64, or 0.22%, to Rs 29,214 per 10 grams, with a business turnover of 3,205 lots.

Similarly, the metal for delivery in December gained Rs 51, or 0.18%, to Rs 28,939 per 10 grams, with a trade volume of 167 lots.

Market analysts said fresh buying by speculators on pick- up in demand in the spot market, following ongoing marriage season mainly led to rise in gold prices at futures trade.

 

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First Published: Dec 02 2011 | 12:46 PM IST

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