Gold futures gain 0.54 per cent on global cues
Gold is trading at Rs 28,970 per ten grams.
New Delhi: Tracking a firming global trend, gold prices rose by 0.54 per cent to Rs 28,970 per ten grams in futures trade on April 7 as participants enlarged positions.
At the Multi Commodity Exchange, gold for delivery in far-month August rose Rs 156, or 0.54 per cent to Rs 28,970 per ten grams in a business turnover of 32 lots. Likewise, the metal for delivery in June traded higher by Rs 147, or 0.51 per cent to Rs 28,793 per ten grams in 2,035 lots.
Analysts said a firming trend in the global market where gold rose after the release of minutes from the Federal Reserve's latest meeting showing policymakers broadly agree the US interest rate should remain low, boosting the appeal of the metal. Globally, gold advanced 0.4 per cent to USD 1,227.60 an ounce in Singapore.