Gold edges higher in futures trade on global cues

Written by PTI | New Delhi | Updated: May 22 2014, 16:51pm hrs
Gold prices rose by Rs 90 to Rs 27,463 per 10 gram in futures trade as speculators created fresh positions after the precious metal recovered in the global markets.

At the Multi Commodity Exchange, gold for delivery in June was up by Rs 90, or 0.33 per cent, to Rs 27,463 per 10 gram in business turnover of 1,059 lots.

The metal for delivery in far-month August contracts moved up by Rs 79, or 0.29 per cent, to Rs 27,230 per 10 gram in a turnover of 97 lots.

Analysts said recovery in the precious metal in the global market mainly helped gold to trade higher at futures trade here.

Meanwhile, gold rose to USD 1,292.45 an ounce from yesterday's USD 1,292.04 an ounce in Singapore.