Gold rises to Rs 29,435 in Muhurat trading

Gold rose 0.38 per cent to Rs 29,435 per ten grams in special Muhurat trading on the Multi Commodity Exchange on Sunday as participants created positions to mark the start of Samvat year 2070.

At the Multi Commodity Exchange, gold for delivery in February 2014 gained Rs 111, or 0.38 per cent, to Rs 29,435 per ten grams. Business turnover was 17 lots.

On the similar lines, gold for delivery in December edged up by Rs 177, or 0.26 per cent, to Rs 29,903 per 10 grams, with a business turnover of 332 lots.

Market participants said fresh positions created by speculators, who opened their new accounts on the first session of Samvat year 2070, mainly influenced gold prices at futures trade here.

Meanwhile, gold spot prices in the national capital stood steady at Rs 31,300 per ten gram in special Diwali trading today.