Gold futures up by 0.3% on firm global cues

Gold prices rose by Rs 86 to Rs 29,649 per 10 grams in futures trading today as speculators raised their bets amid a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month June rose by Rs 86 or 0.29% to Rs 29,649 per 10 grams in a business turnover of 6 lots.

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Similarly, the yellow metal for delivery in April was trading higher by Rs 76 or 0.26% to Rs 29,385 per 10 grams in 268 lots.

Analysts said a firming trend in the global markets where the precious metal advanced further on sustained demand for a safe-haven assets as financial markets were roiled by further volatility in equities and oil, influenced gold here.

Globally, gold surged 1.85% to $1,230.70 an ounce in New York yesterday.