Gold rises in futures trade on firm global cues

New Delhi: Gold futures rose 0.90 percent to Rs 26,866 per 10 grams as speculators enlarged positions on positive cues from global markets.

At the Multi Commodity Exchange, the metal for delivery in August gained Rs 239, or 0.90 percent, to trade higher at Rs 26,866 per 10 gm in a turnover of 451 lots.

On similar lines, the metal for delivery in October edged higher by Rs 211, or 0.79 percent, to Rs 26,895 per 10 gram, clocking a business volume of 12 lots.

Analysts attributed the rise in gold prices at futures trade to the precious metal's sustained upsurge in the global markets as escalating violence in Iraq spurred demand for the safe-haven.

Globally, gold rose 0.5 percent to USD 1,282.98 an ounce in Singapore on Monday the highest level since May 27.

PTI