Gold zooms up by Rs 269 on strong global cues

Gold prices climbed by Rs 269 to Rs 31,778 per 10 gram in futures trade today as traders indulged in raising their bets amid a firm global trend.

At the Multi Commodity Exchange, gold for delivery in far-month October went up by Rs 269 or 0.85 per cent to trade at Rs 31,778 per 10 gram in a business turnover 66 lots.

Similarly, the yellow metal for delivery in August was trading higher by Rs 263 or 0.84 per cent to Rs 31,462 per 10 gm in 1,113 lots.

Market analysts attributed rise in gold prices at futures trade to a firming trend in global markets as speculation that central banks will have to continue supporting the global economy in the wake of Britain’s vote to quit the European Union.

Meanwhile, gold climbed 0.5 per cent to USD 1,328.35 an ounce in Singapore.