Gold rises marginally on positive global cues

Gold prices rose by Rs 39 at Rs 30,832 per 10 gram in futures trade Wednesday after speculators raised bets, driven by a firming global trend.

At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 39, or 0.13 per cent, to Rs 30,832 per 10 gram in a business turnover of 59 lots.

The yellow metal for delivery in December too was up by Rs 36, or 0.12 per cent, to Rs 31,056 per 10 gram in one lot.

Analysts attributed the rise in gold prices in futures trade here to raising of bets by investors tracking a firming trend overseas as the dollar weakened despite another round of tit-for-tat tariffs in the China-US trade dispute.

Meanwhile, gold was trading 0.33 per cent higher at USD 1,201.80 an ounce in Singapore Wednesday.

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