Gold futures spurt Rs 207 on global cues

New Delhi: Gold prices rose by Rs 207 to Rs 28,825 per ten grams in futures trading today as speculators enlarged their positions, tracking a firming trend overseas.

Gold for delivery in April was trading notably higher by Rs 207, or 0.72 per cent, to Rs 28,825 per 10 grams, in a business turnover of 82 lots.

Similarly, the metal for delivery in February was also trading higher by Rs 194, or 0.68 per cent, at Rs 28,819 per 10 grams in 515 lots.

Analysts said speculators widened their bets, tracking a firming global trend as the weakness in dollar boosted demand for the precious metals as a safe-haven, influenced gold prices in futures trade here. Globally, gold inched up 0.50 per cent to USD 1,215.84 an ounce in Singapore.