Gold futures rise 0.18% on global cues

Wednesday, Sep 7, 2016,11:08 IST By metrovaartha A A A

New Delhi | Tracking a firm trend overseas, gold traded higher by 0.18 per cent to Rs 31,581 per 10 grams in futures market Wednesday as traders enlarged positions.

At the Multi Commodity Exchange, gold for delivery in December rose by Rs 58 or 0.18 per cent to Rs 31,581 per ten grams in business turnover of one lot.

Similarly, the yellow metal for delivery in October contracts traded higher by Rs 56 or 0.18 per cent to Rs 31,434 per ten grams in 152 lots.

Analysts attributed the rise in gold futures prices to a firming trend overseas where gold built on its biggest daily increase since June and traded near the highest in almost three weeks as the dollar weakened amid diminishing chances of a US interest-rate rise in September.

Meanwhile, gold rose 0.2 per cent to USD 1,352.16 an ounce in Singapore.