Gold futures climb Rs 88 on global cues

Monday, Jan 4, 2016,11:52 IST By metrovaartha A A A

New Delhi | Gold prices rose by Rs 88 to Rs 25,050 per 10 gram in futures trade Monday as speculators created fresh positions taking positive cues from the global market. At Multi Commodity Exchange, gold for delivery in February was trading Rs 88 or 0.35 per cent higher at Rs 25,050 per 10 gram in business turnover of 293 lots. The metal for delivery in far-month April also moved up by Rs 79 or 0.32 per cent to Rs 25,146 per 10 gram in a turnover of six lots.

Analysts said fresh positions created by participants following a better trend in global market as escalating tension between Saudi Arabia and Iran prompted a return to haven assets, influenced gold prices at futures trade here.

Meanwhile, gold rose as much as 0.5 per cent to USD 1,066.04 an ounce in Singapore.