Gold futures extend gains, up 0.34% on global cues

Gold continues to maintain its sheen in the eyes of Indian buyers, rising by 0.34% to Rs 26,294 per 10 grams in futures trade today after the precious metal soared to record levels in global markets on escalating US and Europe debt woes.

At the Multi Commodity Exchange, the most actively traded contracts, for October delivery, shot up by Rs 90, or 0.34%, to Rs 26,294 per 10 grams, with a turnover of 4,443 lots.

Gold futures had closed 1.8% higher at Rs 26,204 per 10 grams after hitting a record of Rs 26,457 per 10 grams in yesterday's trade.

The December delivery gained Rs 42, or 0.16%, to Rs 26,524 per 10 grams, with a trading volume of 242 lots.

Market analysts said a firming trend in precious metals in New York last evening, where gold touched a high of $1,817.60 an ounce on increased demand for a haven investment as global equities plunged on escalating European and US debt worries, mainly buoyed the trading sentiment here.