Gold futures rise 0.17 % on global cues

Buoyed by a firming global trend, gold prices rose by Rs 48 to Rs 28,712 per ten grams in futures trade today.

At the Multi Commodity Exchange, the April contract for gold rose by Rs 48, or 0.17%, to Rs 28,712 per ten grams in business turnover of 998 lots.

The June contract moved up by Rs 50, or 0.17%, to Rs 29,075 per ten grams in 38 lots.

Analysts said apart from a firming trend in overseas markets, the ongoing marriage season demand at domestic markets mainly led to rise in gold futures.

Meanwhile, gold gained 0.05% to 1,774.50 dollar an ounce in Singapore.