Gold futures prices up on firm global cues

Taking positive cues from the global market, gold prices rose marginally by 0.20 per cent to Rs 30,835 per 10 grams in futures trade today as speculators created fresh positions.

Besides, a firming trend at the domestic spot markets on the back of a hike in import duty to 6 per cent from 4 per cent and wedding season demand also supported the upside.

At the Multi Commodity Exchange, gold for delivery in February moved up by Rs 63, or 0.20 per cent, to trade at Rs 30,835 per 10 grams, with a turnover of 1,993 lots.

Similarly, gold for April delivery gained Rs 38, or 0.12 per cent, to Rs 31,410 per 10 grams, with a business volume of 492 lots.

Marketmen said gains in gold prices at futures trade was mostly in line with a firming trend overseas and domestic spot markets.

Globally, gold traded a shade higher at USD 1,693.55 an ounce in early trade in Singapore.

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