Gold futures up by Rs 72 on firm global cues

Friday, Mar 17, 2017,12:03 IST By anju A A A

New Delhi | Gold prices rose by Rs 72 to Rs 28,555 per 10 grams in futures trading today as speculators enlarged their positions amid a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month June was trading higher by Rs 72 or 0.25 per cent to Rs 28,555 per 10 grams in a business turnover of 4 lots.

Similarly, the yellow metal for delivery in April up Rs 66 or 0.23 per cent to Rs 28,477 per 10 grams in 374 lots.

Analysts said a firming trend in the global markets where gold after the US Federal Reserve signaled a cautious stance on interest rate policy this year, pushing the dollar to its lowest in a month, raising demand for the precious metals as a safe haven, influenced metal futures here.

Globally, gold rose as much as 0.50 per cent to USD 1,225.80 an ounce in New York yesterday.