Gold recovers in futures trade on firm global cues

Gold futures recovered by 0.61 per cent to Rs 28,500 per 10 grams today as speculators enlarged their positions in evening session on the back of firming global trends.
At the Multi Commodity Exchange, gold for delivery in June rose by Rs 174, or 0.61 per cent, to Rs 28,500 per 10 grams, with a business turnover of 735 lots.
The exchange remained closed in morning session for 'Ram Navami'.
In a similar fashion, the metal for delivery in August moved up by Rs 166, or 0.59 per cent, to Rs 28,210 per 10 grams, with a trade volume of 13 lots.

Market analysts said the rise in gold futures was mainly in line with a firming trend overseas as a weaker dollar and tension between Russia and the West increased demand for a safe-haven.
Meanwhile, gold advanced one per cent to USD 1,310.16 an ounce in London in early trade today.