Gold futures rise by 0.3% on global cues

Mumbai-India (May 22)  Gold prices rose by Rs 76 to Rs 27,421 per 10 grams in futures trade today as speculators created fresh positions amid a firming trend overseas.

 At the Multi Commodity Exchange, gold for delivery in August rose by Rs 76, or 0.33%, to Rs 27,421 per 10 grams in a business turnover of 14 lots.

 The metal for delivery in June moved up by Rs 77, or 0.28%, to Rs 27,185 per 10 grams in a turnover of 528 lots.

 Analysts said gains in the precious metal overseas after minutes of a US Fed meeting signalled borrowing costs won't be raised in June influenced gold prices at futures trade here.

 Meanwhile, gold advanced as much as 0.2% to $1,207.09 an ounce in Singapore.

Source: Business-Standard