Gold futures recover by Rs 293 on global cues

Gold prices recovered by Rs 293 to Rs 25,930 per 10 grams in futures trade today as participants created fresh positions after the precious metal recovered from three-month lows.
At the Multi Commodity Exchange, gold for delivery in April rose by Rs 293, or 1.14 per cent, to Rs 25,930 per 10 grams in a business turnover of 1,132 lots.
The metal for delivery in June moved up by Rs 273, or 1.06 per cent, to Rs 26,038 per 10 grams in a turnover of 35 lots.
Analysts said fresh positions created by participants taking a lead from the overseas markets after the US Federal Reserve indicated that interest rates may rise at a slower pace than estimated, influenced gold prices at futures trade here.

Meanwhile, gold added as much as 0.9 per cent to USD 1,177.96 an ounce in Singapore.