Gold up in futures trade on spot demand

Gold prices rose 0.14 per cent to Rs 26,570 per 10 grammes in futures trade today as speculators created fresh positions, taking positive cues from domestic spot markets supported by seasonal demand.
Furthermore, depreciating rupee against the dollar, making imports costlier, too supported the upside.
At the Multi Commodity Exchange, gold for delivery in October was up by Rs 389, or 0.14 per cent to Rs 26,570 per 10 gm in a business turnover of 3,259 lots.
The metal for delivery in far-month December moved up by Rs 37 or 0.14 per cent to Rs 26,748 per 10 gm in a turnover of 102 lots.

Market analysts said rise in the precious metal in domestic spot markets as jewellers made fresh purchases to meet wedding seasonal demand, helped gold to trade higher.
Globally, gold inched up as 0.06 per cent to USD 1,123.50 an ounce in Singapore today.