Gold futures up 0.34% despite weak overseas cues

Traders enlarge positions even as metal loses 0.3% in Singapore

Gold prices rose by Rs 89 to Rs 26,308 per 10 grams in futures trade as speculators enlarged positions even as the metal weakened overseas.

At the Multi Commodity Exchange, gold for delivery in April was up by Rs 89, or 0.34 per cent, to Rs 26,308 per 10 grams in a business turnover of 645 lots.

June gold moved up by Rs 37, or 0.29 per cent, to Rs 26,642 per 10 grams in a turnover of 48 lots.

Analysts said the rise in the gold prices at futures trade was mostly on the back of fresh positions built up by speculators even as the metal weakened for the second day in global markets.

Meanwhile, gold traded 0.3 per cent lower at $1,206.48 an ounce in Singapore.