Gold futures gain Rs 151 on global cues

Thursday, May 5, 2016,10:41 IST By metrovaartha A A A

New Delhi | Gold futures went up by Rs 151 to Rs 30,376 per 10 grams Thursday as speculators created fresh bets amid positive cues from global markets.

At Multi Commodity Exchange, gold for delivery in far-month August was trading higher by Rs 151, or 0.50 per cent, to Rs 30,376 per 10 grams in a business turnover of six lots. The metal for delivery in June contract rose Rs 143, or 0.48 per cent, at Rs 30,134 per 10 grams in a turnover of 364 lots.

Analysts attributed the rise in gold prices to a firming trend overseas where it snapped a three-day losing run as investors assessed the outlook for US interest rates before monthly payrolls data on Friday.

Meanwhile, gold was trading 0.3 per cent higher at USD 1,283.31 an ounce in Singapore. Prices retreated in the past three days after briefly surpassing USD 1,300 earlier this week to reach the highest since January 2015.