Gold futures up by 0.19 per cent on global cues

Mumbai-India (June 13)  Gold rose by 0.19 per cent to Rs 26,448 per 10 grams in futures trade today as participants engaged in enlarging positions on a firming trend overseas.

At the Multi Commodity Exchange, the metal for delivery in far-month October gained Rs 49, or 0.19 per cent, to trade at Rs 26,448 per 10 grams in a turnover of four lots. Similarly, the metal for delivery in August moved up by Rs 34, or 0.13 per cent, to Rs 26,364 per 10 grams, clocking a business volume of 136 lots.

Analysts said the rise in global markets on concerns that a US recovery may stall and violence in Iraq will escalate boosted safe-haven demand and supported the rise in gold prices at futures trade here. Globally, gold climbed 0.20 per cent to USD 1,275.65 an ounce in Singapore today, the highest level since May 27.

Source: AsiaAge