Gold futures gain 0.16 per cent on global cues

Gold futures gain 0.16 per cent on global cues
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New Delhi: Gold prices moved up by 0.16 percent to Rs 29,210 per 10 grams in futures trading on Wednesday as speculators raised bets, tracking a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in February went up by Rs 48, or 0.16 per cent to Rs 29,210 per ten grams in business turnover of 393 lots.

On similar lines, the yellow metal for delivery in April month contracts traded higher by Rs 29, or 0.10 per cent to Rs 29,220 per 10 grams in 60 lots.

Analysts said speculators widening of positions by participants on the back of a firm global trend where gold inches up to hit 3 and a half month highs on weaker dollar, mainly influenced sentiment here.

Globally, gold rose 1.12 per cent to USD 1,317.10 an ounce in New York on Tuesday.


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