Gold futures gain 0.19% on global cues

Mumbai-India (Apr 21)  Taking positive cues from global market, gold prices rose by 0.19 per cent to Rs 29,374 per 10 gram in futures trade today as participants enlarged positions.

 At the Multi Commodity Exchange, gold for delivery in June rose Rs 57, or 0.19 per cent, to Rs 29,374 per 10 gram, in a business turnover of 3,095 lots.

 Likewise, the metal for delivery in far-month August traded higher by Rs 46, or 0.16 per cent, to Rs 29,570 per 10 gram in 20 lots.

 Analysts said a firming trend in the global market where gold rose on bets that policy makers will be slow to hike US interest rates, boosting the appeal of the metal, mainly influenced gold futures.

 Globally, gold advanced 1.03 per cent to USD 1,257.10 an ounce in Singapore.

Source: Business-Standard