BT:Gold price surges in futures trade on firm global cues
Gold prices on Monday rose by 1.42 per cent to Rs 27,084 per 10 grams in futures trade, as speculators enlarged positions after the metal jumped to a one-month high in the global market.
Analysts attributed gains to a firming trend in the overseas markets where prices climbed on expectations that the US Federal Reserve will sustain stimulus.
Gold rose by 1.80 per cent to $1,319.99, the highest level since June 20, in Singapore.
At the Multi Commodity Exchange in New Delhi, metal prices for delivery in August gained Rs 379, or 1.42 per cent, to trade higher at Rs 27,084 per 10 gm in a turnover of 2,900 lots.
Similarly, the gold prices for delivery in October edged up by Rs 373, or 1.39 per cent, to Rs 27,200 per 10 gm, clocking a business volume of 300 lots.