Gold futures climb Rs 168 on global cues

Gold futures climb Rs 168 on global cues

New Delhi: Gold prices were up by Rs 168 to Rs 29,879 per 10 gram in futures trade on Friday as speculators created positions amid positive cues from the global market.

At the Multi Commodity Exchange, gold for delivery in far-month December shot up by Rs 168, or 0.57 per cent, to Rs 29,879 per 10 gram, in a business turnover of 45 lots.

The metal for delivery in October was trading higher by Rs 167, or 0.56 per cent, to Rs 29,731 per 10 gram in a turnover of 827 lots.

According to analysts, a firming trend overseas where gold rebounded from a four-week low as the latest twist in tensions between the US and North Korea prompted investors to seek out the safe-haven asset, influenced the precious metal in futures trade here.

US President Donald Trump yesterday said that he was putting more sanctions on North Korea, the country which has been carrying ballistic missile and nuclear tests in violation of the UN Security Council resolutions.

Meanwhile, gold rose 0.57 per cent to USD 1,298 an ounce in Singapore on Friday.