Gold futures spurt Rs 42 on global cues

Thursday, Jan 28, 2016,12:08 IST By metrovaartha A A A

New Delhi | Gold rose by Rs 42 to Rs 26,791 per 10 grams in futures trading Thursday as speculators widened positions, tracking a firming trend overseas. At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs 42, or 0.16 per cent, to Rs 26,791 per 10 grams, in a business turnover of 890 lots. Similarly, the metal for delivery in far-month April was up by Rs 39, or 0.15 per cent, to Rs 26,869 per 10 grams in 155 lots.

Market analysts said speculators enlarged their positions on the back of a firming global trend after Federal Reserve policy makers said they were closely tracking global developments, influenced gold futures here.

Globally, gold climbed as much as 0.45 per cent to USD 1,124.70 an ounce in New York yesterday.