Gold futures up by 0.7% on global cues

Gold rose by Rs 186 to Rs 27,165 per 10 grams in futures trading today as speculators widened positions, tracking a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in December spurted Rs 186, or 0.69%, to Rs 27,165 per 10 grams, in a business turnover of 836 lots.

Similarly, the metal for delivery in far-month February was also trading higher by Rs 181, or 0.67%, to Rs 27,370 per 10 grams in nine lots.

Market analysts said speculators enlarged their positions on the back of a firming global trend as investors see less chance of higher US borrowing costs this year.
 
Globally, gold climbed as much as 0.5% to $1,174.81 an ounce in Singapore, the highest level since July 6.