Gold futures rise Rs 51 on global cues

Gold prices were higher by Rs 51 to Rs 28,253 per 10 gram in futures trade as participants built up fresh positions, taking positive cues from global markets.
At the Multi Commodity Exchange, gold for delivery in far-month August rose by Rs 51, or 0.18 per cent, to Rs 28,253 per 10 gram, in a business turnover of two lots.
Likewise, the yellow metal for delivery in June moved up by Rs 44, or 0.16 per cent, to Rs 28,135 per 10 gram in 394 lots.
Analysts said fresh positions built up by traders in step with a firm trend overseas influenced gold prices at futures trade.

Globally, gold rose 0.07 per cent to USD 1,226.80 an ounce in Singapore today.