Gold a shade higher in futures trade on global cues

Gold prices rose 0.16 per cent to Rs. 27,765 per 10 grams in futures trading today as speculators enlarged positions amidst a rebound in global markets.

At the Multi Commodity Exchange, gold for delivery in December moved up by Rs. 43, or 0.16 per cent, to Rs. 27,765 per 10 grams in a business turnover of six lots.

Similarly, the yellow metal for delivery in far-month October traded higher by Rs. 25, or 0.09 per cent, to Rs. 27,579 per 10 grams in 218 lots.

Analysts said a slightly better trend in the global markets after yesterday's plunge supported the upside in gold prices at futures trade here.

Meanwhile in Singapore, gold traded higher at $1,266.15 an ounce from $1,265.40 yesterday.

PTI