Gold futures regain Rs 26,000-mark, up Rs 204 on global cues

Thursday, Jan 7, 2016,11:10 IST By metrovaartha A A A

New Delhi | Gold prices shot up by Rs 204 to reclaim Rs 26,000 per 10 gram level for the first time in almost one month in futures trading Thursday as speculators enlarged positions amid a firming trend overseas.

In futures trading at the Multi Commodity Exchange, gold for delivery in far-month April spurted by Rs 204, ot 0.79 per cent to trade at Rs 26,085 per 10 gram in a business turnover of 25 lots.

Also, the yellow metal for delivery in February contracts was trading higher by Rs 187, or 0.76 per cent higher at Rs 25,936 per 10 gram in 515 lots.

Analysts said a firming trend in the global markets where gold jumped to two-month highs after Chinese shares plunged more than 7 per cent and the country’s stock exchanges closed early for the second time this week after central bank today lowered the yuan against the US dollar by 0.51 per cent, buoyed gold futures here.

Globally, gold surged as much as 0.8 per cent to USD 1,102.85 an ounce in Singapore today.