Gold futures prices rise 0.28 pc on global cues

Taking positive cues from the global markets,gold futures prices rose further by 0.28 per cent to Rs 26,796 per 10 gm as speculators enlarged positions. At the Multi Commodity Exchange,gold for delivery in June contracts after opening higher,rose further by Rs 74,or 0.28 per cent,to Rs 26,796 per 10 gm with a business turnover of …

Taking positive cues from the global markets,gold futures prices rose further by 0.28 per cent to Rs 26,796 per 10 gm as speculators enlarged positions.

At the Multi Commodity Exchange,gold for delivery in June contracts after opening higher,rose further by Rs 74,or 0.28 per cent,to Rs 26,796 per 10 gm with a business turnover of 10,403 lots.

Similarly,the metal for delivery in far-month August rose Rs 41,or 0.15 per cent,to Rs 27,095 per 10 gm,in 387 lots.

Globally,gold traded 0.20 per cent higher at USD 1,455.60 an ounce in volatile trade in Singapore today.

Analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets on the back of rising physical demand for gold in China.

They said,however,a weak trend in the spot markets due to slackened demand,limited the gains.

In the spot market gold extended yesterday’s losses with prices falling by another Rs 85 to Rs 27,565 per 10 gm in the national capital today.