Gold prices rise as speculators enlarge positions

Gold prices rose by Rs 149 to Rs 30,005 per 10 grams in futures trading on Friday as speculators enlarged positions amid a firming trend overseas.

At the Multi Commodity Exchange of India (MCX), the gold for delivery in far-month June was trading higher by Rs 149, or 0.50%, to Rs 30,005 per 10 grams, in a business turnover of seven lots.

Similarly, the yellow metal for delivery in April rose by Rs 144, or 0.49%, to Rs 29,760 per 10 grams in 295 lots.

Analysts said a firming trend in the global markets where gold rose 0.13% to $1,262.30 (nearly Rs 84,914.92) an ounce in Singapore, has influenced gold futures.