NEW DELHI, Sept 19: Gold prices surged over 1 per cent to Rs 30,308 per ten gram in futures trade today as speculators indulged in building up fresh positions amid a firming trend overseas as the US Federal Reserve unexpectedly refrained from cutting economic stimulus.
At the Multi Commodity Exchange, metal prices for delivery in October went up by Rs 318, or 1.06 per cent, to trade above Rs 30,308 per ten gram, in a turnover of 868 lots.
On the similar lines, the metal prices for delivery in far-month December shot up by Rs 163, or 0.88 per cent, to Rs 30,110 per 10 gm, in a business volume of 121 lots.
Analysts attributed gains in the precious metal at futures trade to a firm trend in the overseas markets as the Federal Reserve decided to keep its stimulus programme intact, raising demand for the precious metal.
Besides, hike in import duty on gold and silver jewellery to 15 per cent from 10 per cent by the government, also influenced prices, they said.
Globally, gold soared by USD 55.30, or 4.22 per cent, the most since June 1, 2012, to USD 1,365.30 an ounce in New York yesterday. (PTI)
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