Gold marginally up in futures trade

Gold prices rose by Rs 40, or 0.15%, to Rs 27,369 per 10 grams in futures trade today as speculators indulged in created fresh position on pick-up in demand in the spot market amid weakness in the rupee.

At the Multi Commodity Exchange counter, February gold rose by Rs 40, or 0.15%, to Rs 27,369 per 10 grams, with a business turnover of 1,254 lots.

The April delivery gained Rs 34, or 0.12%, to Rs 27,696 per 10 grams, with a business volume of 60 lots.

Analysts attributed the rise in gold prices to a weakening rupee, which plays an important role in fixing the landed cost of the dollar-traded metal.

Also, absence of cues as most of the global markets are closed on account of New Year, also shadowed the sentiments, they said.