Gold futures surge 1.4% on firm global cues

Gold futures prices today rose by 1.42% to Rs 27,084 per 10 grams as speculators enlarged positions after the metal jumped to a one-month high in the global market.

 

At the Multi Commodity Exchange, metal prices for delivery in August gained Rs 379, or 1.42%, to trade higher at Rs 27,084 per 10 gm in a turnover of 2,900 lots.

 

Similarly, the metal prices for delivery in October edged up by Rs 373, or 1.39%, to Rs 27,200 per 10 gm, clocking a business volume of 300 lots.

 

Analysts attributed gains in the precious metal at futures trade to a firming trend in the overseas markets where it climbed to one-month high as expectations that the US Federal Reserve will sustain stimulus.

 

 

Globally, gold rose by 1.80% to $1,319.99, the highest level since June 20 in Singapore,