Gold prices were up by Rs 56 to Rs 28,685 per 10 grams in futures trade today as speculators raised their bets amid a firm global trend.
At the Multi Commodity Exchange, gold for delivery in far-month August was trading higher by Rs 56 or 0.20 per cent to Rs 28,685 per 10 grams in a business turnover of 169 lots.
Market analysts attributed rise in gold futures to positive global cues as weaker oil prices drove up the demand for the precious metal, with a softer dollar and weakness in US Treasury yields also lending support.
Meanwhile, gold was trading 0.12 per cent higher at USD 1,251.50 an ounce in Singapore.
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