Gold surges Rs 80 in futures trade on global cues

Gold prices were up by Rs 80 to Rs 29,655 per 10 grams in futures trade today as speculators took fresh positions on positive cues from global markets.
At the Multi Commodity Exchange, gold for delivery in December was up Rs 80, or 0.27 per cent, at Rs 29,655 per 10 grams in a business turnover of 309 lots.
The metal for delivery in far-month February 2017 contract was also trading higher by Rs 75, or 0.25 per cent, at Rs 29,748 per 10 grams in a turnover of 8 lots.
Analysts said the rise in global market prices influenced the precious metal prices in futures trade here.

Globally, gold was trading 0.4 per cent higher at USD 1,259.26 an ounce in Singapore today.