Gold futures surge Rs 157 on firm global cues
Gold prices went up by Rs 157 to Rs 32,255 per 10 gram in futures trade Monday as speculators widened their bets, tracking a firm trend overseas.
On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 157, or 0.49 per cent, at Rs 32,255 per 10 gram in a business turnover of 251 lots.
Similarly, gold for August traded higher by Rs 108, or 0.33 per cent, at Rs 32,374 per 10 gram with a business volume of 15,270 lots.
Analysts said built up of positions by participants on positive cues from global market raised demand for the precious metal as a safe haven and pushed up gold prices at futures trade here.
Globally, gold rose 0.55 per cent to trade at USD 1,318.30 an ounce in New York.
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