Gold futures spurt Rs 122 on global cues

New Delhi: Gold rose by Rs 122 to Rs 28,650 per ten grams in futures trading today as speculators enlarged their positions, tracking a firming trend overseas. Gold for delivery in far-month April rose by Rs 122, or 0.43 per cent, to Rs 28,650 per 10 grams, in a business turnover of four lots.

Similarly, the metal for delivery in February was also trading higher by Rs 114, or 0.40 per cent, to Rs 28,642 per 10 grams in 199 lots. Analysts said, speculators widened their bets, tracking a firming global trend as weakness in dollar boosted safe-haven demand, which influenced gold prices at futures trade here. Globally, gold inched up 0.22 per cent to USD 1,207.20 an ounce in Singapore.