Financials News

Gold futures spurt Rs 194 on global cues

Gold futures spurt Rs 194 on global cues

New Delhi: Gold rose by Rs 194 to Rs 28,573 per 10 grams in futures trading on Wednesday as speculators enlarged their positions, tracking a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in October spurted Rs 194, or 0.68 per cent, to Rs 28,573 per 10 grams, in a business turnover of 761 lots.

Similarly, the metal for delivery in far-month December was also trading higher by Rs 185, or 0.65 per cent, to Rs 28,580 per 10 grams in 13 lots.

Market analysts said speculators widened their bets in sync with a firming global trend amid rising tensions between the US and North Korea, raising the demand for the precious metals as a safe-haven, influenced gold futures here.

Globally, gold climbed 2.29 per cent to USD 1,264.40 an ounce in Singapore on Wednesday.