Uptrend in Gold on strong global trend

Gold prices heighten by Rs 2 to Rs 31529 per 10 gram in futures trading Friday.  The rise in the precious metal is attributed to the widening bets of speculators, tracking a strong trend overseas.

At the Multi Commodity Exchange or MCX, gold for delivery in February traded higher reportedly by 0.01 percent or Rs.2, to Rs 31,529 per 10 gram, in a business turnover of 13,984 lots, whereas Gold rate for the far-month April was also 0.01 percent, at Rs 31,695 per 10 gram, with a business volume of 2,092 lots.

The gold price in the world market moves at a minimum of this week. In the international market, gold rose 0.1% to trade at USD 1,246.4 per ounce in Singapore.

Meantime, the euro weakened after European Central Bank reduced the rate of growth and inflation expectations for the coming year.

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