Gold recovers in futures trade on firm global cues

Written by PTI | New Delhi | Updated: Mar 25 2014, 17:13pm hrs
Gold pricesAt the Multi Commodity Exchange, gold for delivery in April rose by Rs 51, or 0.17 per cent, to Rs 29,210 per 10 grams, with a business turnover of 579 lots.
Gold futures recovered by 0.17 per cent to Rs 29,210 per 10 grams today as speculators enlarged their positions on the back of firming global trends.

At the Multi Commodity Exchange, gold for delivery in April rose by Rs 51, or 0.17 per cent, to Rs 29,210 per 10 grams, with a business turnover of 579 lots.

In a similar fashion, the metal for delivery in June moved up by Rs 47, or 0.16 per cent, to Rs 28,833 per 10 grams, with a trade volume of 112 lots.

Market analysts said the rise in gold futures was mainly in line with a rebound in overseas markets after the worlds leading industrial powers threatened further sanctions to deter Russia from invading other parts of Ukraine, boosting demand for a safe-haven.

Meanwhile, gold advanced 0.40 per cent to USD 1,313.64 an ounce in Singapore in early trade today.