Gold futures up on firm global cues

NEW DELHI: Gold futures prices today rose by 0.52 per cent to Rs 29,521 per 10 grams as speculators enlarged their positions, driven by a firming trend in the Asian region.

At the Multi Commodity Exchange, gold for delivery in April rose by Rs 146, or 0.52 per cent, to Rs 29,521 per 10 gm in business turnover of 2,054 lots.

The metal for delivery in the June moved up by Rs 145, or 0.48 per cent, to Rs 30,078 per 10 gm in a turnover of 128 lots.

Market analysts said a firming trend in the global market as euro-zone fears returned on news that Cyprus was planning to tax bank depositors as part of a controversial bailout, triggering demand for the safe haven, mainly influenced gold futures here

Meanwhile, gold rose by 0.30 per cent to $1,596.95 an ounce in Singapore after jumping to $1,608.60, the most expensive since February 27 in early trade today.