Gold futures rise 0.72% on global cues

Analysts attributed rise in gold prices to the precious metal's sustained rise in the global markets

Taking positive cues from global markets, gold futures prices today rose 0.72% to Rs 27,047 per 10 grams as speculators enlarged positions.

 

At the Multi Commodity Exchange, metal for delivery in far-month October gained Rs 193, or 0.72%, to trade higher at Rs 27,047 per 10 gm in a turnover of 56 lots.

 

On the similar lines, the metal for delivery in August spurted by Rs 175, or 0.65%, to Rs 26,918 per 10 gm, clocking a business volume of 1,464 lots.

 

Analysts attributed rise in gold prices at futures trade to the precious metal's sustained rise in the global markets after US Federal Reserve chief Ben S Bernanke called for maintaining stimulus.

 

Globally, gold rose 0.7% to $1,295.20 an ounce in Singapore today.