Gold futures up on global cues

Gold prices rose by Rs 38 to Rs 29,260 per 10 grams in futures trade today as speculators created fresh positions on the back of firm global trend.

At the Multi Commodity Exchange, gold for delivery in August rose by Rs 38, or 0.13% to Rs 29,260 per 10 grams in business turnover of 13,076 lots.

The October contract traded higher by Rs 30, or 0.10% to Rs 29,600 per 10 grams in 722 lots.

Market analysts said speculative positions created by traders in tandem with a firm global trend mainly led to rise in gold prices at futures trade.

Meanwhile, gold rose 0.4% to $1,578.15 an ounce in London.