Gold Futures Up By Rs 80 On Firm Global Cues

Gold prices went up by Rs 80 to Rs 32,171 per 10 gram in futures trade Monday as participants built up fresh positions, taking positive cues from global markets.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 80, or 0.25 per cent, to Rs 32,171 per 10 gram in a business turnover of 674 lots.

Likewise, the yellow metal for delivery in April moved up by Rs 66, or 0.20 per cent, to Rs 32,290 per 10 gram in 140 lots.

Analysts said fresh positions built up by traders in line with a firm trend overseas on expectations that the US Federal Reserve will pause its multi-year interest rate hike cycle, influenced gold futures.

Globally, gold rose 0.10 per cent to USD 1,282.31 an ounce in Singapore, while US gold futures were steady at USD 1,282 an ounce.

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