Gold price futures up on firm global cues

PTI : New Delhi, Tue Feb 26 2013, 12:36 hrs

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Gold futures prices rose by 0.28 per cent to Rs 30,205 per 10 gm today as speculators enlarged their positions on the back of firming global trends.

At the Multi Commodity Exchange, gold for delivery in June rose by Rs 84, or 0.28 per cent, to Rs 30,205 per 10 grams, with a business turnover of 242 lots.

In a similar fashion, the metal for delivery in April moved up by Rs 78, or 0.26 per cent, to Rs 29,695 per 10 grams, with a trade volume of 3,056 lots.

Market analysts said the rise in gold futures was mainly due to a firming trend in overseas markets on signs of increased demand in china and as political turmoil in Italy after an election spurred demand for the precious metals.

Meanwhile, gold rose by 0.30 per cent, USD 1,598.55 an ounce in Singapore in early trade today.

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