Financials News

Gold futures up Rs 180 on global cues

Gold futures up Rs 180 on global cues

New Delhi: Gold futures were trading up by Rs 180 to Rs 28,564 per 10 grams as traders raised bets amid positive cues from global markets.

At the Multi Commodity Exchange, gold for delivery in August was trading higher by Rs 180, or 0.63 per cent, at Rs 28,564 per 10 grams in a business turnover of 118 lots.

Similarly, the metal for delivery in October was trading higher by Rs 163, or 0.57 per cent, to Rs 28,798 per 10 grams, in 118 lots.

Analysts attributed the rise in gold prices at futures market to a firming trend overseas where it rallied to six- week high on rising demand for the yellow metal as the dollar dropped to a 13-month low after the US Federal Reserve indicated that it would keep to a slow path of monetary tightening.

Meanwhile, gold was trading 0.30 per cent higher at USD 1,264.31 an ounce in Singapore.

PTI