Gold futures edge higher on global cues

New Delhi: Gold prices rose by Rs 76 to Rs 27,421 per 10 grams in futures trade on May 22 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 per cent, 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 per cent, 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 per cent to USD 1,207.09 an ounce in Singapore.