Gold futures up on firm global cues

PTI Posted online: Friday, Apr 25, 2014 at 0000 hrs
New Delhi : Gold futures rose by 0.50 per cent to Rs 28,443 per 10 gm today as speculators enlarged positions on the back of firming global trends.

At the Multi Commodity Exchange, gold for delivery in far-month August rose by Rs 142, or 0.50 per cent, to Rs 28,443 per 10 grams, with a business turnover of 90 lots.

In a similar fashion, the metal for delivery in June moved up by Rs 140, or 0.49 per cent, to Rs 28,930 per 10 grams, with a trade volume of 1,763 lots.

Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets as the conflict between Russia and Ukraine fuelled demand and buying increased in China, the world’s largest consumer.

Meanwhile, gold rose by 0.79 per cent to USD 1,293.90 an ounce in New York yesterday.