Gold futures up by 0.4% on global cues

Gold prices spurted by Rs 122 to Rs 28,496 per 10 gram in futures trade as speculators widened their bets taking positive cues from the global market.

At Multi Commodity Exchange, gold for delivery in June was trading Rs 122 or 0.43% higher at Rs 28,496 per 10 gram in business turnover of 226 lots.

The metal for delivery in far-month August also moved up by a similar margin to trade at Rs 28,660 per 10 gram in a turnover of one lot.

Analysts said fresh positions created by participants following a better trend in global market and weakening dollar, supported the upside in gold futures here.
 
Meanwhile, gold traded 0.80% higher at $1,225 an ounce in Singapore today.