Gold futures up 0.38 pc on firm global cues

NEW DELHI-INDIA  (Aug 8) Gold futures prices today rose by 0.38 per cent to Rs 27,781 per 10 grams as speculators enlarged positions, largely in tandem with a firming trend overseas ahead of US jobless claims report.

At the Multi Commodity Exchange, metal prices for delivery in October gained Rs 104, or 0.38 per cent, to trade higher at Rs 27,781 per 10 gm in a turnover of 324 lots.

Similarly, the metal prices for delivery in far-month December edged up by Rs 86, or 0.31 per cent, to Rs 27,690 per 10 gm, clocking a business volume of six lots.

Analysts attributed gains in the precious metal at futures trade to a firm trend in overseas markets before a report today that may show US jobless claims increased, potentially delaying moves by the Federal Reserve to slow the pace of bond purchases.
Globally, gold rose by 0.60 per cent, to USD 1,294.85 an ounce in Singapore today.