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Gold futures extend gain, up 0.27% on positive global cues

Gold futures extend gain, up 0.27% on positive global cues

NEW DELHI: Tracking a firming trend overseas, gold advanced for the second straight day and prices rose further by 0.27 per cent to Rs 28,605 per 10 grams in futures trade today as speculators engaged in widening their bets.

At the Multi Commodity Exchange, gold for delivery in February month rose by Rs 76, or 0.27 per cent to Rs 28,605 per ten grams in business turnover of 410 lots.

On similar lines, the metal for delivery in far-month April contracts was trading higher by Rs 59, or 0.21 per cent to Rs 28,581 per ten grams in 7 lots.

Analysts said a firming trend in precious metals overseas as lingering concern over Donald Trump’s policies and the U.K.’s position in the European Union, buoyed sentiment here.

Globally, gold rose 0.34 per cent to USD 1,206.70 an ounce in Singapore.