Gold futures up on firm global cueshttps://indianexpress.com/article/news-archive/web/gold-futures-up-on-firm-global-cues-3/

Gold futures up on firm global cues

Gold rose by 1.9 per cent,the biggest jump since January 25.

Gold futures rose by 0.38 per cent to Rs 28,826 per 10 grams today,as speculators enlarged their positions on the back of a firming global trend.

At the Multi Commodity Exchange,gold for delivery in June rose by Rs 108,or 0.38 per cent,to Rs 28,826 per 10 grams,with a business turnover of 80 lots.

In a similar fashion,the metal for delivery in April moved up by Rs 105 to,or 0.37 per cent to Rs 28,485 per 10 grams,with a trade volume of 2,225 lots.

Analysts attributed the rise to firming trends in overseas markets after agreement on a bailout package for Greece boosted prospects for raw materials use and political tension in the Middle East increased demand for a safe haven.

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Gold rose by 1.9 per cent,the biggest jump since January 25,to USD 1,758.50 an ounce in New York in yesterday’s trade.