Gold futures up Rs 190 on global cues

Tuesday, Feb 23, 2016,12:20 IST By metrovaartha A A A

New Delhi | Gold rallied by Rs 190 to Rs 29,402 per 10 grams in futures trading Tuesday as speculators widened positions, tracking a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month June spurted Rs 190, or 0.65 per cent, to Rs 29,402 per 10 grams, in a business turnover of 50 lots. Similarly, the metal for delivery in April was also trading higher by Rs 184, or 0.64 per cent, to Rs 29,150 per 10 grams in 3,169 lots.

Market analysts attributed rally in gold prices at futures trade to widening of positions by participants, tracking a firming trend overseas. Globally, gold climbed USD 12.10, or 1 per cent to USD 1,220.40 an ounce in Singapore.