 "Gold rises in futures trade on global cues; up 0.4%")
Gold futures prices today rose by 0.39% to Rs 26,761 per 10 grams as speculators created fresh positions on positive global cues as a weaker dollar overseas boosted demand for the metal.
Besides, covering-up of short positions by speculators at prevailing levels, also influenced gold futures prices here.
At the Multi Commodity Exchange, metal for delivery in August gained Rs 103, or 0.39%, to trade higher at Rs 26,761 per 10 gm in a turnover of 1,313 lots.
Also Read
Similarly, the metal for delivery in far-month October spurted by Rs 102, or 0.38%, to Rs 26,870 per 10 gm, clocking a business volume of 173 lots.
Analysts attributed rise in gold prices at futures trade to the precious metal's rise in the global markets as a weaker dollar boosted demand for the metal as an alternative investment.
Further, covering-up of short positions by speculators also supported the upside, they said.
Globally, gold rose 0.80% to $1,294.93 an ounce in Singapore today.