Gold futures up Rs 120 on positive global cues

Gold prices rose by Rs 120 to Rs 32,000 per 10 gram in futures trade Friday as speculators widened their bets, tracking a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs 120, or 0.38 per cent, to Rs 32,000 per 10 gram, in a business turnover of 13,971 lots.

Similarly, the March rates of the precious metal edged higher by Rs 136, or 0.43 per cent, to Rs 32,108 per 10 gram with a business volume of 115 lots.

Analysts said raising of bets by participants, taking positive cues from global markets as weakness in dollar raised demand for the precious metal as a safe-haven, mainly pushed up gold prices.

Globally, gold rose 0.11 per cent to trade at USD 1,228 an ounce in Singapore.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)