Gold futures are trading slightly higher in early trade on Monday. April 2013 gold futures at the MCX were trading up 0.02% at Rs 30,195 per 10 grams at 10.40 am after hitting high of Rs 30,275. It opened at Rs 30,215.
April 2013 gold futures at COMEX were up USD 2.4 or 0.15% to USD 1611.9/t oz. Meanwhile, in the spot markets, gold was up USD 4.07 or 0.24% to USD 1613.95/t oz. at 10.47 am.
Commenting on the outlook, Emkay Commodity Research said, ''Gold prices are expected to move in a range as US markets are closed for President Day which will lead to very low trading volumes. In India, a weaker rupee and bargain hunting can slightly support prices. Gold for April delivery on the Multi Commodity Exchange (MCX) was down by 0.99% at Rs 30,160/10gms.''