Gold futures gain Rs 41 on global cues

Tuesday, May 31, 2016,11:17 IST By metrovaartha A A A

New Delhi | Gold futures were up by Rs 41 to Rs 28,644 per 10 gram as speculators raised their bets amid positive cues from global markets.

At the Multi Commodity Exchange, gold for delivery in June was trading higher by Rs 41 or 0.14 per cent to Rs 28,644 per 10 gram in a business turnover of 378 lots. The metal for delivery in far-month August rose Rs 4 or 0.01 per cent at Rs 28,852 per 10 gram in a turnover of 323 lots. Analysts attributed the rise in gold prices to a firming trend overseas.

Moreover, drop in the dollar also boosted demand for bullion as an alternative asset, they added. Meanwhile, gold was trading 0.64 per cent higher at USD 1,212.60 an ounce in Singapore.

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