Gold futures inch up 0.07 per cent on firm global cues

New Delhi: Gold prices inched up by 0.07 percent to Rs 28,848 per 10 grams in futures trading on Wednesday as speculators raised bets, driven by firm global trend.

At the Multi Commodity Exchange, gold for delivery in February edged higher by Rs 19, or 0.07 per cent to Rs 28,848 per 10 grams in business turnover of 400 lots.

Likewise, the yellow metal for delivery in April contracts was trading higher by Rs 8, or 0.03 per cent at Rs 28,840 per 10 grams in 16 lots.

Analysts said widening of positions by participants on account of positive global cues influenced gold prices in futures trade.

Meanwhile, gold was trading 0.67 per cent up at USD 1,283 an ounce in New York in Tuesday's trade.