Gold futures up Rs 115 on positive global cues

Monday, Feb 6, 2017,12:28 IST By anju A A A

New Delhi | Gold prices surged by Rs 115 to Rs 29,009 per 10 grams in futures trading today as speculators widened their bets amid a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month June spurted Rs 115, or 0.40 per cent, to Rs 29,009 per 10 grams, in a business turnover of 14 lots.

Similarly, the yellow metal for delivery in April traded higher by Rs 86, or 0.30 per cent, to Rs 28,995 per 10 grams in 466 lots.

Analysts said a firming trend in the global market as the dollar slipped against a basket of major currencies after mixed US jobs data late last week lowered expectations for near-term interest rate hikes, boosting demand for a safe-haven, influenced gold futures.

Globally, gold rose 0.25 per cent to USD 1,222.50 an ounce in Singapore.