Gold futures rise 0.42% on global cues

Gold prices moved up by 0.42 per cent to Rs 28,905 per 10 gram in futures trade as participants created fresh positions, tracking a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in June rose by Rs 120, or 0.42 per cent, to Rs 28,905 per 10 gram, in a business turnover of 504 lots.
On similar lines, the metal for delivery in far-month August traded higher by Rs 99, or 0.34 per cent, to Rs 29,010 per 10 gram in 62 lots.
Analysts said fresh positions built up by traders in line with a firm global trend, mainly attributed the rise in gold prices at futures trade.

Globally, gold rose 0.13 per cent to USD 1,262 an ounce in Singapore.