Gold futures up Rs 235 on firm global cues

Thursday, Jan 14, 2016,12:01 IST By metrovaartha A A A

New Delhi | Gold prices surged Rs 235 to Rs 25,970 per 10 grams in futures trading Thursday as participants widened bets, triggered by a firming trend overseas. At the Multi Commodity Exchange, gold for delivery in February rose by Rs 235, or 0.91 per cent, to Rs 25,970 per 10 grams in a business turnover of 1,369 lots. Similarly, the yellow metal for delivery in far-month April was trading higher by Rs 223, or 0.86 per cent, to Rs 26,072 per 10 grams in 69 lots.

Analysts said a firming trend in the global market where gold advanced as equity-market losses and sinking commodity prices spurred demand for safe-haven assets while boosting speculation that the Federal Reserve may slow the pace of increases in US interest rates, influenced the precious metal prices in the futures trade here.

Globally, gold rose 0.2 per cent to USD 1,095.39 an ounce in Singapore.