Gold futures climb Rs 280 on global cues

New Delhi: Gold prices spurted by Rs 280 to Rs 28,200 per 10 grams in futures trade as speculators widened their bets taking positive cues from the global market.

At the Multi Commodity Exchange, gold for delivery in December went up by Rs 280, or 1 per cent at Rs 28,200 per 10 gram in a business turnover of five lots. The metal for delivery in far-month February also moved up by Rs 179 to trade at Rs 28,136 per 10 grams in a turnover of 400 lots.

Analysts said fresh positions created by participants following a better trend in global market and weakening dollar, supported the upside in gold futures here. Meanwhile, gold traded 0.37 per cent higher at USD 1,175.90 an ounce in Singapore today.