Gold futures up by 1% on global cues

Gold prices spurted by Rs 262 to Rs 25,630 per 10 gram in futures trade as speculators raised their bets after the precious metal rebounded in global markets.

In futures trading at the Multi Commodity Exchange, gold for delivery in December rose by Rs 262, ot 1.02% to Rs 25,630 per 10 gram in a business turnover of 952 lots.

Also, the precious metal for delivery in far-month February next year was trading higher by Rs 261, or 1.02% to Rs 25,822 per ten gram in 29 lots.

Analysts said recovery in gold prices in the global market, where it rebounded as the attacks in Paris reinvigorated bullion's traditional role as a haven, influenced gold prices at futures trade here.
 
Besides, covering-up short positions by speculators too helped gold to trade in positive terrain, they said.

Globally, the metal's rates advanced as much as 0.9% to $1,093.74 an ounce in Singapore.