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Gold futures up Rs 97 on global cues

New Delhi: Gold prices rose by Rs 97 to Rs 29,034 per 10 grams in futures trade today as speculators widened positions, tracking a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in June was trading higher by Rs 97, or 0.34 per cent, to Rs 29,034 per 10 grams in a business turnover of just three lots.

Similarly, the metal for delivery in April was up by Rs 92, or 0.32 per cent, to Rs 28,885 per 10 grams in 72 lots.

Market analysts said speculators enlarged their positions on the back of a firming global trend as the weakness in the dollar against major currencies overseas after President Donald Trump’s failure to pass healthcare reform raised doubts over his ability to push through his economic agenda, influenced gold futures here.

Globally, gold climbed as much as 1 per cent to USD 1,256.53 an ounce in Singapore, the highest since February.

PTI