Gold futures rise Rs 28 on firm global cues

New Delhi: Gold prices were higher by Rs 28 to Rs 30,215 per 10 gram in futures trade as participants built up fresh positions, taking positive cues from global markets.

At the Multi Commodity Exchange, gold for delivery in April rose by Rs 28, or 0.09 per cent, to Rs 30,215 per 10 gram, in a business turnover of 168 lots.

Likewise, the yellow metal for delivery in June moved up by Rs 8, or 0.03 per cent, to Rs 30,359 per 10 gram in 2 lots.

Analysts said fresh positions built up by traders in step with a firm trend overseas as investors resorted to bargain hunting after the yellow metal’s sharp decline of over 1 per cent to its lowest in more than three weeks in the previous session, influenced gold futures.

Globally, gold rose 0.39 per cent to USD 1,328.80 an ounce in Singapore on Wednesday.