Gold futures climb Rs 110 on global cues

Monday, Jun 13, 2016,11:40 IST By metrovaartha A A A

New Delhi | Gold prices spurted by Rs 110 to Rs 30,400 per 10 gram in futures trade as speculators raised their bets after the precious metal traded near three-week high in global markets. In futures trading at the Multi Commodity Exchange, gold for delivery in far-month rose by Rs 110 or 0.36 per cent to Rs 30,400 per 10 gram in a business turnover of 12 lots. Also, the precious metal for delivery in August was trading higher by Rs 89 or 0.30 per cent to Rs 30,173 per ten gram in 723 lots.

Analysts said rising gold prices in the global market as uncertainty mounts over the potential risks if Britain decides to leave the European Union and as traders price in zero chance of the Federal Reserve raising interest rates at a meeting this week, influenced gold prices at futures trade.

Globally, the metal’s rates advanced as much as 0.15 per cent to USD 1,275.20 an ounce after rising to USD 1,278.50, the highest since May 18, in Singapore.