Gold futures up by 0.3% on global cues

Gold rose by Rs 70 to Rs 26,230 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 February spurted Rs 70, or 0.27%, to Rs 26,230 per 10 grams, in a business turnover of 389 lots.

Similarly, the metal for delivery in far-month April was also trading higher by Rs 61, or 0.23%, to Rs 26,261 per 10 grams in 23 lots.

Market analysts said speculators widened their bets backed up a firming global trend as investors weighed the prospects of the metal as a safe-haven even as equities in Asia continued to rally.
 

Globally, gold climbed 0.3% to $1,101.04 an ounce in Singapore.