Gold futures climb Rs 121 on profit-booking

Gold prices zoomed by Rs 121 to Rs 28,926 per 10 gram in futures trade today as speculators created positions amid positive global cues.

At the Multi Commodity Exchange, gold for delivery in June moved up by Rs 121, or 0.42 per cent, to Rs 28,926 per 10 grams in a business turnover of 168 lots.

The metal for delivery in far-month August was trading higher by Rs 101, or 0.35 per cent, to Rs 29,055 per 10 grams in a turnover of two lots.

Analysts said widening of bets by participants, mainly influenced the precious metal here in futures trade but a weak trend overseas restricted the gains.
 

Meanwhile, gold fell 0.18 per cent to USD 1,253.10 an ounce in Singapore.