Gold futures rise 0.17 pc on positive global cues

Tracking a firming trend overseas, gold prices rose by Rs 49 to Rs 28,993 per 10 grams in futures trade today as speculators built up fresh positions.

At the Multi Commodity Exchange, gold for delivery in August rose by Rs 49, or 0.17 per cent, to Rs 28,993 per ten grams in a business turnover of 165 lots.

On similar lines, the yellow metal for delivery in October traded higher by Rs 47, or 0.16 per cent to Rs 29,138 per ten grams in 3 lots.

Market analysts said fresh positions created by participants in tandem with a firm trend overseas mainly attributed the rise in gold prices at futures trade.
 

Globally, gold rose 0.23 per cent to USD 1,269 an ounce in Singapore.