Gold futures regain Rs 30,000-level on positive global cues

Tuesday, Mar 1, 2016,11:57 IST By metrovaartha A A A

New Delhi | Gold regained Rs 30,000-mark by surging Rs 258 to Rs 30,008 per 10 grams in futures trading Tuesday as speculators widened their bets amid a firming trend overseas. At the Multi Commodity Exchange, gold for delivery in far-month June spurted Rs 258, or 0.87 per cent, to Rs 30,008 per 10 grams, in a business turnover of 40 lots. Similarly, the yellow metal for delivery in April traded higher by Rs 277, or 0.94 per cent, to Rs 29,790 per 10 grams in 888 lots.

Analysts said a firming trend in the global markets as data showed Chinese manufacturing contracted for a record seventh month, boosting demand for a safe-haven, influenced gold futures.

Globally, gold rose 0.7 per cent to USD 1,247.78 an ounce in Singapore. The precious metal had climbed 11 per cent in February, the biggest monthly increase since January 2012.