India: Gold price surges Rs. 85 in futures trade on global cues

Mumbai-India (Jan 15)  Gold prices rose by Rs. 85 to Rs. 25,722 per 10 gram in futures trade today as speculators took fresh positions on positive cues from global markets.

At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs. 85, or 0.33 per cent, at Rs. 25,722 per 10 gram, in a business turnover of 782 lots.

The metal for delivery in far—month April was also up by Rs. 74, or 0.29 per cent, to Rs. 25,827 per 10 gram, in a turnover of 30 lots.

Market analysts said the rise in gold prices at futures trade was mostly attributed to a firming trend in the precious metals overseas.

Globally, gold was trading 0.53 per cent higher at $1,084.20 an ounce in Singapore today.

Source: TheHindu