Gold rises in futures trade on global cues

NEW DELHI: Gold prices rose 0.35% to Rs 28,481 per 10 grams in futures trade as speculators created fresh positions after the precious metal climbed to over one-week high in the global markets.

At the Multi Commodity Exchange, gold for delivery in August was up by Rs 98, or 0.35%, to Rs 28,481 per 10 grams in a business turnover of 13 lots.

The metal for delivery in June moved up by Rs 79, or 0.27%, to Rs 28,984 per 10 grams in a turnover of 413 lots. 

Market analysts said recovery in the precious metal in the global market where it soared to more than one-week level as a worsening crisis in Ukraine fuelled haven demand, influenced gold prices at futures trade here.

Meanwhile, gold rose by 0.30% to $1,306.59 an ounce in Singapore, the highest since April 16. 

 

ANKUR MISHRA

PGDM - 1ST

SOURCE - TOI