Gold futures glitter on Akshaya Tritiya, global cues

New Delhi: Gold prices were higher by 0.25 per cent to Rs 28,930 per ten grams in futures trade today as speculators built up fresh positions, tracking a better trend at the spot markets on token by retailers on the auspicious occasion of ‘Akshaya Tritiya’.

At the Multi Commodity Exchange, gold for delivery in far-month August contracts was trading higher by Rs 71, or 0.25 per cent, to Rs 28,730 per ten grams in business turnover of 2 lots.

Also, the precious metal for delivery in June was up by Rs 48, or 0.17 per cent, to Rs 28,817 per ten grams in 124 lots.

At the spot markets, gold traded higher at Rs 27,770 per ten grams in opening trade at Chennai.

Analysts said the rise in yellow metal prices at futures trade was mostly supported by token purchases by retailers at spot markets on account of Akshaya Tritiya, considered to be most auspicious day for buying gold and silver.

Meanwhile, gold rose by 0.09 per cent to USD 1,264.70 an ounce in Singapore.