Gold up in futures trade on global cues

Gold futures prices edged up by 0.19% to 27,399 per 10 grams today, tracking a firming trend overseas as a weaker dollar raised demand for the metal.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 52, or 0.19%, to Rs 27,399 per 10 grams, with a business turnover of 2,095 lots.

The metal for delivery in April moved up by Rs 46, or 0.17%, to Rs 27,770 per 10 grams, with a trade volume of 232 lots.

Market analysts attributed the rise in gold futures to a firming global trend after the metal traded at more than a month high as a weaker dollar bolstered its demand.

Meanwhile, in London, gold futures rose by 0.3% to $1,664.35 an ounce last night, the highest prices since December 13.