BT:Gold prices rise in futures trade on firm global cues
Tracking a firm global trend, gold prices rose by 0.18 per cent , to Rs 26,487 per 10 gm in futures trade on Friday as speculators enlarged their positions.
Gold for delivery in June rose by Rs 47, or, 0.18 per cent, to Rs 26,487 per 10 gm in business turnover of 1,926 lots at the Multi Commodity Exchange.
The yellow metal for delivery in August traded higher by Rs 41, or 0.15 per cent, to Rs 26,685 per 10 gm in 415 lots.
Analysts said a firming trend in the global markets after data showed Chinas manufacturing contracted in May for the first time in seven months, boosting demand for metal as a protection of wealth, mainly led to rise in gold prices at futures trade.
Meanwhile, gold rose 0.30 per cent to $1,394.80 an ounce in Singapore in early trade on Friday.
