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Gold futures up on firm global cues

PTI  New Delhi, May 03, 2013
First Published: 11:05 IST(3/5/2013) | Last Updated: 11:06 IST(3/5/2013)

Gold futures prices rose by 0.38% to Rs. 27,016 per 10 gm on Friday as speculators enlarged their positions on the back of firming global trends.


At the Multi Commodity Exchange, gold for delivery in June rose by Rs. 102, or 0.38%, to Rs. 27,016 per 10 grams, with a business turnover of 1,757 lots.

In a similar fashion, the metal for delivery in August moved up by Rs. 94, or 0.34%, to Rs. 27,350 per 10 grams, with a trade volume of 116 lots.

Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets on optimism that stimulus will be sustained, countering a drop in bullion-backed exchange-traded products.

Meanwhile, gold rose by 0.70% to $1,477.25 an ounce in Singapore in early trade on Friday.

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