Gold futures rises 0.36% on global, spot cues

Continuing its winning streak, gold prices surged 0.36 per cent to Rs 19,906 per ten gram in futures trade today, tracking strong overseas markets.

Besides, strong demand at spot markets, the ongoing festive as well as marriage season also influenced the precious metal prices at futures trade here.

Analysts said firming trend in gold at global markets on expectations that the US Federal Reserve may provide more stimulus to boost economic recovery, and help gold futures to trade higher in futures trade here.
    
Weakness in dollar and rising demand at the domestic markets for the ongoing festive and marriage season, also boosted the sentiment.
    
In global markets, gold gained surged $6.10 to $1,356.10 an ounce in the Asian region.
     
At the Multi Commodity Exchange counter, gold for delivery in February contract gained Rs 886, or 0.36 per cent, to trade at Rs 19,906 per ten gram, with a turnover of four lots.
    
The gold for delivery in far-month April contract also rose by Rs 66, or 0.33 per cent, to Rs 20,032 per ten gram, clocking a turnover of one lot, while June-month contract up by Rs 50, or 0.25 per cent, to Rs 20,118 per ten gram, with a turnover of four lots.