Gold futures rise on positive Asian cues

New Delhi: Gold prices rose by 0.37 per cent to Rs 28,734 per 10 grams in futures trade in evening session today as speculators enlarged their positions, taking positive cues from the Asian markets. The exchange opened for the evening session as it remained closed in the morning for ‘Budha Purnima”‘.

At the Multi Commodity Exchange, gold for delivery in June gained Rs 98, or 0.37 per cent, to Rs 26,734 per 10 grams in a business turnover of 261 lots.

Also, the precious metal for delivery in far-month August gained Rs 88, or 0.33 per cent, to Rs 26,899 per 10 grams in seven lots. Analysts said the rise in yellow metal prices at futures trade was mostly in tandem with a better trend overseas as investors gauged the outlook for higher US interest rates before the monthly jobs data later this week.

Meanwhile, gold rose by 0.6 per cent to USD 1,185.23 an ounce in Singapore.

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