Gold futures up Rs 186 on global cues

Wednesday, Aug 10, 2016,10:56 IST By metrovaartha A A A

New Delhi | Gold futures were up by Rs 186 to Rs 31,751 per 10 grams as traders raised bets amid positive cues from global markets.

At the Multi Commodity Exchange, gold for delivery in far-month December contracts was quoting higher by Rs 186 or 0.59 per cent at Rs 31,751 per 10 grams in a business turnover of 16 lots.

Similarly, the metal for delivery in October traded higher by Rs 184, or 0.59 per cent to Rs 31,457 per 10 grams, in 467 lots.

Analysts attributed the rise in gold prices to a firming trend overseas where it rebounded from the lowest in a week as the dollar weakened, boosting demand for precious metals as a store of value.

Meanwhile, gold was trading 0.88 per cent higher at USD 1,352.40 an ounce in Singapore.