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Gold futures gain 0.28 per cent on firm global cues

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New Delhi: Gold prices moved up by 0.28 per cent to Rs 25,138 per 10 grams in futures trade in the evening session on December 24, as speculators raised their bets, tracking a firm global trend. The exchange remained closed for the morning session on account of ‘Id-e-Milad’.

At the Multi Commodity Exchange, gold for delivery in February next year was trading higher by Rs 71, or 0.28 per cent, to Rs 25,138 per 10 grams in a business turnover of 1,000 lots. Likewise, the yellow metal for delivery in far-month April next year gained Rs 59, or 0.23 per cent, to Rs 25,256 per 10 grams in just one lot.

Analysts said speculators enlarged their positions on the back of firm trend overseas, where precious metal rose after two days of losses as a drop in the dollar boosted the appeal of the metal as an alternative asset. Globally, gold rose 0.3 per cent to USD 1,073.60 an ounce in Singapore.

IANS