Gold up by 0.2% on global cues

Gold rose by Rs 42 to Rs 26,791 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 February was trading higher by Rs 42, or 0.16%, to Rs 26,791 per 10 grams, in a business turnover of 890 lots.

Similarly, the metal for delivery in far-month April was up by Rs 39, or 0.15%, to Rs 26,869 per 10 grams in 155 lots.

Market analysts said speculators enlarged their positions on the back of a firming global trend after Federal Reserve policy makers said they were closely tracking global developments, influenced gold futures here.
 
Globally, gold climbed as much as 0.45% to $1,124.70 an ounce in New York yesterday.