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Gold futures recover by Rs 293 on global cues


New Delhi: Gold prices recovered by Rs 293 to Rs 25,930 per 10 grams in futures trade today as participants created fresh positions after the precious metal recovered from three-month lows.

At the Multi Commodity Exchange, gold for delivery in April rose by Rs 293, or 1.14 per cent, to Rs 25,930 per 10 grams in a business turnover of 1,132 lots.

The metal for delivery in June moved up by Rs 273, or 1.06 per cent, to Rs 26,038 per 10 grams in a turnover of 35 lots.

Analysts said fresh positions created by participants taking a lead from the overseas markets after the US Federal Reserve indicated that interest rates may rise at a slower pace than estimated, influenced gold prices at futures trade here.

Meanwhile, gold added as much as 0.9 per cent to USD 1,177.96 an ounce in Singapore.

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