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Gold futures rise 0.62 % on global cues

Friday, Apr 7, 2017,13:16 IST By anju A A A

New Delhi | Gold prices rose 0.62 per cent to Rs 29,048 per 10 grams in futures trade on Friday as participants created fresh positions, tracking a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month August rose by Rs 179, or 0.62 per cent, to Rs 29,048 per 10 grams, in business turnover of 11 lots.

Likewise, the yellow metal for delivery in June moved up by Rs 147, or 0.51 per cent, to Rs 28,868 per 10 gram in 358 lots.

Analysts said traders built up fresh positions in line with a firm global trend where gold rallied to highest level since November 9 after the US launched missile strikes on Syria, fanning geopolitical concerns, raising demand for the precious metal as a safe haven.

Globally, gold rose 1.08 per cent to USD 1,265.10 an ounce in Singapore.