Gold surges Rs 135 in futures trade on global cues
Gold prices were up by Rs 135 to Rs 28,328 per ten 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 far-month October was up Rs 135, or 0.48 per cent, at Rs 28,328 per ten gram in a business turnover of 193 lots.
The metal for delivery in August contract was also trading higher by Rs 121, or 0.43 per cent, at Rs 28,117 per ten gram in a turnover of 8,854 lots.
Analysts said the rise in global market prices as the US dollar slipped against a basket of major currencies after recent soft US inflation, raised demand for the precious metals as a safe haven, influenced the precious metal prices in futures trade here.
Globally, gold was trading 0.31 per cent higher at USD 1,237.88 an ounce in Singapore today.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)