Financials News

Gold futures remain up, gain 0.22 per cent on global cues

Gold futures remain up, gain 0.22 per cent on global cues
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New Delhi: Gold prices advanced by 0.22 per cent to Rs 30,748 per 10 grams in futures trading on Wednesday as speculators enlarged their positions, driven by a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in June month rose by Rs 69, or 0.22 per cent to Rs 30,748 per 10 grams in business turnover of 9 lots.

Likewise, the yellow metal for delivery in April contracts were trading higher by Rs 59, or 0.19 per cent to Rs 30,632 per 10 grams in 193 lots.

Analysts said participants expanded their positions on the back of a firm trend overseas as the dollar weakened after US President Donald Trump said he would push ahead with punitive tariffs on steel and aluminium imports, rekindling fears of a potential trade war.

Globally, gold rose 1.09 per cent to USD 1,334.20 an ounce in New York in on Tuesday’s trade.

PTI