Business / Gold prices rise on global cues

India TV : Jun 01, 2019, 12:40 PM

Gold prices rose by Rs 143 to Rs 31,952 per 10 gram in futures trade Friday as speculators raised bets on the back of firm trend overseas. On the Multi Commodity Exchange, gold to be delivered in June contracts rose by Rs 143, or 0.45 per cent, to Rs 31,952 per 10 gram in business turnover of 1,870 lots.

Analysts said raising of bets by participants influenced gold prices at futures trade in tune with a firm trend overseas.Globally, gold prices rose over the lingering US-China trade war, it further received support on the expectation of rate cut by the US Federal Reserve which dented on the American currency, say reports.

The spot gold prices were trading up 0.51 per cent to USD 1,299 an ounce in New York.