Financials News

Gold futures edge up on positive global cues

Gold futures edge up on positive global cues

New Delhi: Gold prices were higher by 0.18 per cent to Rs 28,3184 per 10 grams in futures trading today as participants enlarged positions, tracking a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month April month gained Rs 51, or 0.18 per cent to Rs 28,318 per 10 grams in business turnover of 121 lots.

Likewise, the metal for delivery in February contracts traded higher by Rs 41, or 0.14 per cent to Rs 28,394 per ten grams in 210 lots.

Analysts said a firming trend overseas where gold strengthened as the dollar slipped against a basket of major currencies and sluggish economic data from the US, boosted demand for a haven.

Meanwhile, gold rose 0.21 per cent to USD 1,193.80 in Singapore. Pick up in demand from local jewellers at domestic spot market further fuelled the upside, they said.

PTI