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Gold futures gain 0.68% on global cues

Thursday, Feb 2, 2017,12:32 IST By anju A A A

New Delhi | Gold prices rose by 0.68 per cent to Rs 28,876 per 10 grams in futures trade on Thursday as speculators built up fresh positions, tracking a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month April traded higher by Rs 194, or 0.68 per cent, to Rs 28,876 per 10 grams, in a business turnover of 547 lots.

On similar lines, the metal for delivery in February went up by Rs 140, or 0.48 per cent, to Rs 29,010 per 10 grams in 16 lots.

Analysts said traders created fresh positions in step with a firm global trend as the weakness in dollar against its major peers, raised demand for the precious metal as a safe-haven, mainly supported the upside in gold prices at futures trade.

Globally, gold rose 0.45 per cent to USD 1,215.10 an ounce in Singapore.