Gold futures up Rs 36 on global cues

Monday, May 2, 2016,12:08 IST By metrovaartha A A A

New Delhi | Gold rose by Rs 36 to Rs 30,502 per 10 grams in futures trading Monday as speculators widened positions, tracking a firming trend overseas. At the Multi Commodity Exchange, gold for delivery in far-month August was trading higher by Rs 36, or 0.12 per cent, to Rs 30,502 per 10 grams, in a business turnover of just one lot.

Similarly, the metal for delivery in June was up by Rs 14, or 0.05 per cent, to Rs 30,280 per 10 grams in 120 lots.

Market analysts said speculators enlarged their positions on the back of a firming global trend as a gauge of the dollar touched an 11-month low after weaker-than-expected US economic growth cut prospects for higher interest rates, adding to the appeal of safe haven investment, influenced gold futures here.

Globally, gold climbed as much as 0.03 per cent to USD 1,292.80 an ounce in Singapore.