 "Gold futures recover on global cues")
Gold prices recovered by Rs 70, or 0.27%, to Rs 26,274 per 10 grams in futures trade as speculators created fresh positions taking positive cues from the global market.
At the Multi Commodity Exchange, gold for delivery in far-month August rose by Rs 70, or 0.27%, to Rs 26,274 per 10 gram in business turnover of 98 lots.
The metal for delivery in the June moved up by Rs 69, or 0.26%, to Rs 26,157 per 10 gm in a turnover of 738 lots.
Meanwhile, gold rose by 2.49% to $1,394.10 an ounce in New York in yesterday.
At the Multi Commodity Exchange, gold for delivery in far-month August rose by Rs 70, or 0.27%, to Rs 26,274 per 10 gram in business turnover of 98 lots.
The metal for delivery in the June moved up by Rs 69, or 0.26%, to Rs 26,157 per 10 gm in a turnover of 738 lots.
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Analysts said a firming trend in global market after Moody's Investors Service said that the US may face a credit downgrade, mainly influenced gold prices at futures trade here.
Meanwhile, gold rose by 2.49% to $1,394.10 an ounce in New York in yesterday.