Gold futures continue to rise on firm global cues

Gold prices rose by 0.25 per cent to Rs 32,328 per 10 grams in futures trade on Thursday as speculators indulged in creating positions driven by a firming trend overseas.

Further, rising demand in the spot markets for the upcoming marriage season also supported the upside.

At the Multi Commodity Exchange, gold for delivery in December was up by Rs 82, or 0.25 per cent, to trade at Rs 32,328 per 10 grams, with a turnover of 196 lots.

Similarly, gold for October delivery gained Rs 76, or 0.24 per cent, to trade at Rs 31,942 per 10 grams, clocking a business volume of 3,068 lots.

In the domestic spot market yesterday, gold had gained Rs 300 to Rs 32,480 per 10 gram in the national capital.

Marketmen said continued rise in gold prices at futures trade was in line with a firming trend overseas on speculation that the US Federal Reserve would today announce more stimulus to spur economic growth, hurting the dollar, which raised fancy for precious metals.

Meanwhile, gold gained 20 cents, or 0.01 per cent, to USD 1,731.60 an ounce in Singapore.