India: Gold futures up by Rs. 78 on firm global cues

Mumbai-India (Mar 31)  Gold prices rose Rs. 78 to Rs. 28,663 per 10 grams at the futures trading today as speculators enlarged their positions amid a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month June rose Rs. 78 or 027 per cent to Rs. 28,663 per 10 grams in a business turnover of 277 lots.

Similarly, the yellow metal for delivery in April was trading higher by Rs. 57 or 0.20 per cent to Rs. 28,464 per 10 grams in 343 lots.

Analysts said a firm trend in the global markets where gold headed for the biggest quarterly advance since September 1990 as demand for haven assets surged to make the metal one of this year’s best performing commodity, influenced metal futures here.

Globally, gold rose as much as 0.3 per cent to $1,228.96 an ounce in Singapore.

Source: TheHindu