Gold futures up on global cues

Gold prices rose by 0.15% to Rs 29,580 per 10 grams in futures trade today after speculators enlarged positions on the back of positive global cues as the dollar weakened.

At the Multi Commodity Exchange, gold for February delivery was up by Rs 45, or 0.15%, to Rs 29,580 per 10 grams in business turnover of 976 lots.

The metal for delivery in April contracts moved up by Rs 43, or 0.15%, to Rs 29,155 per 10 grams in a turnover of 21 lots.

Analysts said a firming trend in global market as the dollar weakened, boosting the appeal of the precious metal as an alternative investment, mainly influenced gold prices at futures trade here.

Meanwhile, gold jumped 2.2% to $1,261.10 an ounce in New York yesterday.

PTI