Gold futures spurt 0.26 pc on global cues

Gold prices rose by Rs 80 to Rs 31,054 per 10 grams in futures trading today as speculators enlarged their positions, tracking a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in August jumped by Rs 80, or 0.26 per cent, to Rs 31,054 per 10 grams in a business turnover of five lots.

Similarly, the metal for delivery in far-month October was trading higher by Rs 65 or 0.21 per cent, to Rs 31,366 per 10 grams in five lots.

Market analysts said speculators widened their bets in sync with a firming global trend, supported by a weaker dollar as the trade spat between the US and China intensified.

 

Globally, gold climbed 0.37 per cent to USD 1,282.60 an ounce in Singapore today.