Gold futures up on firm global cues

Gold futures today rose by 0.29% on sustained buying by traders and speculators on the back of a firming global trend.

On the Multi Commodity Exchange at 1115 hours, gold for the most active August month contract gained 0.29% to Rs 14,333 per ten gram, in trading of 45 lots.

The yellow metal for the June month contract traded 0.24 % higher at Rs 14,328 in 1,474 lots.

Traders said a pick up in demand in the spot market and reports of a firming trend in the overseas market, mainly pushed up gold prices. Meanwhile, gold in the Asian market traded lower at around $ 887.10 an ounce against $ 894.30.