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Gold futures rise 0.45% on global cues


New Delhi:  Gold prices rose by 0.42 per cent to Rs 26,593 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 April contracts gained Rs 110, or 0.42 per cent, to trade at Rs 26,593 per 10 grams in a turnover of 171 lots.

Similarly, the metal for delivery in June moved up by Rs 94, or 0.35 per cent, to Rs 26,800 per 10 grams, clocking a business volume of 33 lots.

Analysts said a firming trend in global markets where gold climbed above USD 1,200 an ounce as Saudi Arabia and its allies started bombing targets in Yemen, boosting safe-haven demand, supported the rise in the precious metal at futures trade here.

Globally, gold climbed 0.4 per cent to USD 1,200.46 an ounce in Singapore today, the highest level since March 6.

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