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Gold futures rise 0.60% on positive global cues

New Delhi: Gold prices rose by 0.60 per cent to Rs 27,808 per 10 grams in futures trading today as speculators created fresh positions, taking positive cues from global markets.

At the Multi Commodity Exchange, gold for delivery in far-month April was up by Rs 166, or 0.60 per cent, to Rs 27,808 per 10 grams, in a business turnover of 50 lots.

Similarly, the metal for delivery in February went up by Rs 162, or 0.59 per cent, to Rs 27,844 per 10 grams in 551 lots.

Market analysts attributed the rise in gold prices at futures trade to a firm trend overseas where gold rose to its highest in four weeks as the US dollar retreated from a 14-year peak touched earlier this week.

Globally, gold rose 0.9 per cent to USD 1,173.51, the highest level in almost a month in Singapore.