Gold futures rise 0.42% on global cues - 2 Nov 2016
Gold futures were up 0.42 percent to Rs 30,335 per ten grams as traders raised their bets amid positive cues from the global markets.
At the Multi Commodity Exchange, gold for delivery in far-month February next year rose Rs 126 or 0.42 percent to Rs 30,335 per ten grams in a business turnover of 25 lots. Similarly, the metal for delivery in December traded higher by Rs 123 or 0.41 percent to Rs 30,408 per ten grams in 284 lots.
Analysts attributed the rise in gold prices to a firming trend overseas where it rose to the highest in almost one month as the dollar weakened and investors awaited the US Federal Reserve's interest-rate decision later today. Meanwhile, gold was trading 0.33 percent higher at USD 1,292 an ounce in Singapore.
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