Gold futures rise 0.22 pc on global cues

Gold prices rose 0.22 per cent to Rs 29,504 per 10 grams in futures trade today as speculators created fresh positions, taking positive cues from global markets.
At the Multi Commodity Exchange, gold for delivery in December was up by Rs 65, or 0.22 per cent, to Rs 29,504 per 191 grams in a trade volume of 75 lots.
The metal for delivery in far-month February moved up Rs 52, or 0.18 per cent, to Rs 29,610 per 10 grams in a turnover of 11 lots.
Market analysts said rise in the precious metal at the global market as the dollar remained under pressure after minutes of the US Federal Reserve's meeting revealed that some policymakers were concerned over lower inflation, influenced gold at futures trade here.

Meanwhile, gold edged up by 0.05 per cent to USD 1,291.30 an ounce in Singapore today.