Gold futures rise by 0.40 per cent on global cues

New Delhi: Gold prices rose by 0.40 per cent to Rs 27,630 per 10 grams in futures tradeon Wednesday, as speculators created fresh positions, tracking a firm global trend. 

At the Multi Commodity Exchange, gold for delivery in August moved up by Rs 111, or 0.40 per cent to Rs 27,630 per ten gram in business turnover of 1,641 lots.  Similarly, the metal for delivery in October gained Rs 78, or 0.28 per cent to Rs 27,660 per 10 grams in 45 lots. 

Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets as a decline in equities and the dollar spurred demand for an alternative investment.  Meanwhile, gold added 0.4 per cent to USD 1,324.15 an ounce in Singapore.