Gold futures rule steady on firm global cues, up 0.58%

Metal adds 0.4% in Singapore as policy makers tighten terms of Greek bailout and central banks across globe act to counter slower growth, boosting demand for a safe haven

Gold prices rose by 0.58 per cent to Rs 27,560 per 10 grams in futures trading today as speculators enlarged positions amid a firming global trend.

At the Multi Commodity Exchange, gold for delivery in April advanced by Rs 158, or 0.58 per cent, to Rs 27,560 per 10 grams in a business turnover of 396 lots.

February gold gained Rs 131, or 0.48 per cent, to Rs 27,670 per 10 grams in just one lot.

Analysts attributed the rise in gold futures to a firming global trend as policy makers in Europe tightened the terms of Greece's bailout and the People's Bank of China joined central banks acting to counter slower growth, boosting demand for a safe haven.

Meanwhile, gold rose 0.4 per cent to $1,274.18 an ounce in Singapore.