Gold futures up 0.20% on global cues

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gold-priceNEW DELHI: Gold futures traded a shade higher at Rs 30,206 per ten gram on Wednesday as participants enlarged positions amid a firming trend overseas.

Besides, covering-up of short positions by speculators also supported the upside.

At the Multi Commodity Exchange, metal for delivery in December contract gained Rs 60, or 0.20%, to trade higher at Rs 30,206 per 10 gram in a turnover of 708 lots.

Similarly, the metal for delivery in far-month February next year contracts moved up by Rs 45, or 0.15%, to Rs 29,901 per 10 gram, clocking a business volume of 19 lots.

Analysts said rise in the global markets on expectations the US Federal Reserve will maintain its aggressive stimulus after a government shutdown hurt the economy, influenced gold prices at futures trade.

Globally, gold gained 0.1% to $1,344.50 an ounce in Singapore on Wednesday.