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Gold futures up 0.22% on global cues

Traders build fresh positions as metal surges to near three-week high abroad, on sustained tension in Ukraine

<a href="http://www.shutterstock.com/pic-101030746/stock-photo-close-up-of-the-gold-coins.html" target="_blank">Gold</a> image via Shutterstock
Press Trust of India New Delhi
Last Updated : May 05 2014 | 2:51 PM IST
Gold prices rose by 0.22 per cent to Rs 28,935 per 10 grams in futures trade today as speculators created fresh positions by taking positive cues from the global market.

At the Multi Commodity Exchange, gold for delivery in June was up Rs 64, or 0.22 per cent, to Rs 28,935 per 10 grams in a business turnover of 231 lots.

May gold added Rs 50, or 0.18 per cent, to Rs 28,260 per 10 grams in a turnover of 7 lots.

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Analysts said a firming trend in global market where gold jumped to the highest level in almost three weeks, as escalating tensions in Ukraine boosted haven demand, influenced the trading sentiments at futures trade here.

Meanwhile, gold rose as much as 0.70 per cent to $1,308.91 an ounce, reaching its highest level since April 15 in Singapore.

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First Published: May 05 2014 | 11:21 AM IST

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