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Gold price rises on positive global cues

Gold prices were trading higher by Rs 31 at Rs 30,419 per 10 grams in futures trade today as speculators raised bets amid a firm global trend.

At the Multi Commodity Exchange, gold for delivery in far-month December was trading higher by Rs 31, or 0.10 per cent, to Rs 30,419 per 10 grams in a business turnover of 26 lots.

The yellow metal for delivery in October too gained Rs 27, or 0.09 per cent, to Rs 30,250 per 10 grams in 696 lots.

Market analysts attributed the rise in gold prices at futures trade to a firming trend overseas as demand for safe- haven assets remained strong in the wake of North Korea’s most powerful nuclear test to date.

Meanwhile, gold was trading 0.42 per cent higher at USD 1,339.40 an ounce in New York yesterday.

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