Gold futures rise 0.72 per cent on positive global cues

Gold futures rise 0.72 per cent on positive global cues
Representational Photo

New Delhi: Gold prices climbed 0.72 per cent to Rs 28,398 per 10 grams in futures trade on Thursday as speculators built up fresh positions tracking a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 203, or 0.72 per cent, to Rs 28,398 per ten grams in a business turnover of 684 lots.

Likewise, the yellow metal for delivery in April was trading higher by Rs 193, or 0.68 per cent, to Rs 28,425 per ten grams in 34 lots.

Analysts said, fresh positions created by participants in line with a firm trend overseas where gold inched up as the dollar was nearly unchanged after tumbling in the previous session following the US Federal Reserve’s widely expected decision to raise interest rates, mainly influenced gold prices at the futures trade.

Globally, gold rose 0.17 per cent to USD 1,257.50 an ounce in Singapore.

PTI