Gold prices rise on global cues
Gold prices went up by Rs 157 to Rs 32,255 per 10 gram in futures trade Monday as speculators widened their bets, tracking a firm trend overseas.
On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 157, or 0.49 per cent, at Rs 32,255 per 10 gram in a business turnover of 251 lots.
Similarly, gold for August traded higher by Rs 108, or 0.33 per cent, at Rs 32,374 per 10 gram with a business volume of 15,270 lots.
Analysts said built up of positions by participants on positive cues from global market raised demand for the precious metal as a safe haven and pushed up gold prices at futures trade.
Globally, gold rose 0.55 per cent to trade at USD 1,318.30 an ounce in New York.
