Gold futures climb Rs 129 on global cues

Friday, Jul 29, 2016,11:24 IST By metrovaartha A A A

New Delhi | Gold prices spurted by Rs 129 to Rs 31,160 per 10 grams in futures trade as speculators widened their bets taking positive cues from the global market Friday.

At Multi Commodity Exchange, gold for delivery in August was trading Rs 129 or 0.42 per cent higher at Rs 31,160 per 10 grams in business turnover of 674 lots.

The metal for delivery in far-month October also moved up by Rs 127 or 0.41 per cent to Rs 31,451 per 10 grams in a turnover of 353 lots.

Analysts said widening of positions by participants following a better trend in global market after the Federal Reserve reiterated a gradual approach to raising interest rates sending the dollar lower and raising demand for the precious metals supported the upside in gold futures here.

Meanwhile, gold traded 0.16 per cent higher at USD 1,336.80 an ounce in Singapore.