Gold futures rise Rs 102 on global cues

Tuesday, Oct 4, 2016,10:49 IST By metrovaartha A A A

New Delhi | Gold prices were higher by Rs 102 to Rs 30,681 per 10 gram in futures trade on Tuesday as speculators widened their positions even as the precious metal weakened overseas as the dollar strengthened.

At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 102, or 0.33 per cent, to Rs 30,681 per 10 gram, in a business turnover of 33 lots.

The metal for delivery in far-month December moved up Rs 13, or 0.04 per cent, to Rs 30,874 per 10 gram, in a turnover of 381 lots.

Market analysts said expanding of positions by speculators helped gold futures to trade here but metal’s weakness overseas on dollar’s gain against basket of currencies overseas, capped the gains.

Meanwhile, gold shed 0.08 per cent to USD 1,310.20 an ounce in Singapore on Tuesday.