Gold futures spurt Rs 70 on global cues

New Delhi: Gold rose by Rs 70 to Rs 26,230 per 10 grams in futures trading on January 28, as speculators enlarged their positions, tracking a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in February spurted Rs 70, or 0.27 per cent, to Rs 26,230 per 10 grams, in a business turnover of 389 lots.

Similarly, the metal for delivery in far-month April was also trading higher by Rs 61, or 0.23 per cent, to Rs 26,261 per 10 grams in 23 lots.

Market analysts said speculators widened their bets backed up a firming global trend as investors weighed the prospects of the metal as a safe-haven even as equities in Asia continued to rally.

Globally, gold climbed 0.3 per cent to USD 1,101.04 an ounce in Singapore.