Gold futures recover on positive global cues

Gold prices recovered by Rs 58 to Rs 28,995 per 10 grams in futures trade today as speculators raised their bets amid a firm global trend.
At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 58, or 0.20 per cent, to Rs 28,995 per 10 grams in a business turnover of 329 lots.
The yellow metal for delivery in February next year gained Rs 46, or 0.16 per cent, to Rs 29,020 per 10 grams in 11 lots.
Market analysts attributed the rise in gold prices to widening of positions in futures trade, tracking positive global trends.

Globally, gold was trading 0.41 per cent higher at USD 1,212.86 an ounce in Singapore.