Gold futures up 0.4% on firm global cues

A firming trend in the overseas markets influenced gold prices

Gold futures prices today rose by 0.37% to Rs 28,150 per 10 grams as speculators enlarged positions after the metal gained in the global market.

 

At the Multi Commodity Exchange, metal prices for delivery in far-month October gained Rs 103, or 0.37%, to trade higher at Rs 28,150 per 10 gm in a turnover of 1,314 lots.

 

Similarly, the metal prices for delivery in August, edged up by Rs 58, or 0.20%, to Rs 28,535 per 10 gm, clocking a business volume of 56 lots.

 

Analysts attributed gains in the precious metal at futures trade to a firming trend in the overseas markets as US jobs data backed the case for the Federal Reserve to maintain stimulus.

 

Globally, gold rose by 0.30% to $1,315.50 an ounce in Singapore.