Gold prices rises 0.18 per cent in futures trade

Gold in February gained Rs 50,or 0.18 pct,to trade higher at Rs 28,504 per 10 gm.

Gold prices rose marginally by 0.18 per cent to Rs 28,504 per 10 gm in futures trade today as participants enlarged positions mostly supported by a firming trend overseas after the recent fall.

Besides,pick up in demand in spot markets,also supported the upside.

At the Multi Commodity Exchange,metal for delivery in February gained Rs 50,or 0.18 per cent,to trade higher at Rs 28,504 per 10 gm in a turnover of 316 lots.

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Similarly,the metal for delivery in April moved up by Rs 46,or 0.17 per cent,to Rs 27,892 per 10 gm,clocking a business volume of five lots.

Analysts said a firming trend in the global markets and rising demand in the spot markets,helped gold futures to trade higher.

Globally,gold for delivery in February rose 0.1 per cent to USD 1,204.30 an ounce on the Comex in New York.

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