Gold climbs Rs 65 in futures trade on global cues

Thursday, Sep 22, 2016,10:59 IST By metrovaartha A A A

New Delhi | Gold prices rose by Rs 65 to Rs 31,365 per 10 gram in futures trade Thursday as speculators took fresh positions on positive cues from global markets.

At the Multi Commodity Exchange, gold for delivery in far-month December was trading higher by Rs 65 or 0.21 per cent at Rs 31,365 per 10 gram in a business turnover of 43 lots.

The metal for delivery in October also was up by Rs 60, or 0.19 per cent to Rs 31,265 per 10 gram in a turnover of 581 lots.

Market analysts said the rise in global market prices, after the US Federal Reserve yesterday decided not to lift interest rates, raised demand for gold and other commodities, besides weakening of the dollar. This influenced gold prices in futures market in India as well.

Globally, gold surged 1.54 per cent to close at USD 1,334.90 an ounce in New York yesterday.