 "Gold futures rise 0.6% on firm global cues")
Gold prices rose by Rs 161 to Rs 26,268 per 10 grams in futures trade today as speculators enlarged their positions, tracking a firm global trend.
The sentiment improved as gold in overseas markets rose the most in a week after data showed China's inflation accelerated more than estimated in June, boosting demand for the precious metal as a hedge.
At the Multi Commodity Exchange, gold for delivery in August rose by Rs 161, or 0.62%, to Rs 26,268 per 10 grams in business turnover of 3611 lots.
Market analysts said fresh positions created by speculators in tandem with a firm global trend mainly led to rise in gold prices at futures trade.
Meanwhile, gold climbed 1.5%, the most since July 1, to $1,255.18 an ounce in Singapore.
The sentiment improved as gold in overseas markets rose the most in a week after data showed China's inflation accelerated more than estimated in June, boosting demand for the precious metal as a hedge.
At the Multi Commodity Exchange, gold for delivery in August rose by Rs 161, or 0.62%, to Rs 26,268 per 10 grams in business turnover of 3611 lots.
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Similarly, gold for delivery in October moved up by Rs 157, or 0.60%, to Rs 26,400 per 10 grams in 219 lots.
Market analysts said fresh positions created by speculators in tandem with a firm global trend mainly led to rise in gold prices at futures trade.
Meanwhile, gold climbed 1.5%, the most since July 1, to $1,255.18 an ounce in Singapore.
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