Home BusinessGold futures rise on global cues
Gold futures rose 0.31 per cent at the Multi Commodity Exchange (MCEX) today as traders engaged in enlarging their positions in tandem with a firming global trend on dollar weakness.
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Gold, for far-month February contract, rose by Rs 52 or 0.31 per cent to Rs 16,882 per ten gram with an open interest of 16,463 lots.
The metal for delivery in April month contract also gained Rs 53 or 0.31 per cent to Rs 16,942 per ten gram in 3,445 lots.
Marketmen said increased buying by traders in line with a firming global trend led to a rise in gold at the futures market.
Meanwhile, gold recorded a steep rise of $24.50 at $1120.90 an ounce in New York late evening.