Buoyed by a firm Asian trend, gold prices rose 0.72 per cent to Rs 29,500 per 10 gram at the futures trade today as speculators enlarged their positions.
Besides, rising demand at the domestic spot market for the ongoing festive and wedding season supported the rise.
On the Multi Commodity Exchange, gold for delivery in far-month February rose Rs 210 or 0.72 per cent to Rs 29,500 per 10 gram in a business turnover of 10 lots.
Similarly, the yellow metal for delivery in December traded higher by Rs 205 or 0.7 per cent to Rs 29,685 per 10 gram in 235 lots.
Analysts said a firming trend in the Asian trade on speculation that the US Fed would not start tapering until 2014 and rising demand in the domestic spot market mainly led to rise in gold prices at the futures trade.
In the national capital, gold prices went up by Rs 150 to Rs 31,650 per ten gram on Saturday.
Globally, gold rose $1.60 or 0.12 per cent to $1,319 an ounce in Singapore.
Source:- thehindubusinessline.com
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