Gold futures up Rs 28 on firm global cues

New Delhi: Gold prices rose higher by Rs 28 to Rs 27,920 per 10 grams in futures trading today as speculators widened their bets, triggered by a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month April rose by Rs 28, or 0.10 per cent, to Rs 27,920 per 10 grams in a business turnover of one lot. Similarly, the yellow metal for delivery in February was trading higher by Rs 17, or 0.06 per cent, to Rs 27,904 per 10 grams in 142 lots.

Analysts said widening of positions by participants, tracking a firm lead from global market, influenced the precious metal prices in the futures trade here. Globally, gold rose 0.14 per cent to USD 1,173.80 an ounce in Singapore.