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Gold futures up by Rs 72 on firm global cues

Press Trust of India  |  New Delhi 

Gold prices rose by Rs 72 to Rs 28,555 per 10 grams in futures trading today as speculators enlarged their positions amid a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month June was trading higher by Rs 72 or 0.25 per cent to Rs 28,555 per 10 grams in a business turnover of 4 lots.

Similarly, the yellow metal for delivery in April up Rs 66 or 0.23 per cent to Rs 28,477 per 10 grams in 374 lots.

Analysts said a firming trend in the where gold after the US Federal Reserve signaled a cautious stance on policy this year, pushing the dollar to its lowest in a month, raising demand for the precious metals as a safe haven, influenced metal futures here.

Globally, gold rose as much as 0.50 per cent to USD 1,225.80 an ounce in New York yesterday.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 17 2017. 11:32 IST