Gold futures recover on firm Asian cues

Rise in gold futures mainly in line with firming trend in overseas markets on the back of rising physical demand for gold in China

Gold futures prices recovered marginally by 0.16% to Rs 26,763 per 10 gm today largely in tune with a firming trend overseas.

The August contract rose by Rs 43, or 0.16%, to Rs 27,097 per 10 gm, with a business turnover of 27 lots.

The June contract moved up by Rs 41, or 0.15%, to Rs 26,722 per 10 gm, with a trade volume of 977 lots.

Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets on the back of rising physical demand for gold in China.

Meanwhile, gold rose by 0.20% to $1,455.60 an ounce in Singapore in early trade today.