Positive global cues lift gold futures by 0.38%

Tracking a firm global trend, gold prices went up by 0.38 per cent to Rs 30,952 per 10 grams in futures trade Friday as speculators built up fresh positions.

At the Multi Commodity Exchange, gold for delivery in December rose by Rs 116, or 0.38 per cent to Rs 30,952 per ten grams in business turnover of 34 lots.

Similarly, the yellow metal for delivery in October was trading higher by Rs 114, or 0.37 per cent to Rs 30,713 per ren grams in 234 lots.

Market analysts said fresh positions created by traders in sync with a firming global trend where gold prices edged higher on Friday to a one-week high as the dollar weakened on receding fears of a full-blown Sino-US trade war, with the yellow metal heading for its first weekly gain in four.

Globally, gold rose 0.12 per cent to USD 1,208.30 an ounce in Singapore.

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