Gold futures gain 0.56% on global cues

NEW DELHI: Gold prices were up by 0.56 per cent to Rs 30,677 per 10 grams in futures trade today as speculators built up fresh positions, tracking a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in February traded higher by Rs 172, or 0.56 per cent, to Rs 30,677 per 10 grams, in a business turnover of 142 lots.

On similar lines, the metal for delivery in far-month April went up by Rs 164, or 0.54 per cent, to Rs 30,610 per 10 grams in 1,329 lots.

Analysts said traders created fresh positions in step with a firm global trend as the weakness in dollar against its major peers, raised demand for the precious metal as a safe- haven, mainly supported the upside in gold prices at futures trade.

Globally, gold rose 0.25 per cent to USD 1,348.30 an ounce in New York yesterday.