Gold rises Rs 50 in futures trade on global cues

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Press Trust of India New Delhi
Last Updated : Feb 01 2016 | 12:28 PM IST
Gold prices rose by Rs 50 to Rs 26,688 per 10 gram in futures trade after speculators widened positions amid a better trend overseas.
Gold for delivery in current month was trading higher by Rs 50, or 0.19 per cent to Rs 26,88 per 10 gram in a turnover of 78 lots at the Multi Commodity Exchange.
The metal for delivery in far-month April contracts also rose by a similar margin to trade at Rs 26,795 per 10 gm in a turnover of 169 lots.
Analysts said the rise in gold prices at futures trade was mostly in tune with a firming trend overseas after data showed a further contraction in China's manufacturing, adding to the case for safe-haven assets as investors boost holdings.
Meanwhile, gold rose as much as 0.4 per cent to USD 1,122.40 an ounce in Singapore.
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First Published: Feb 01 2016 | 12:28 PM IST

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