Gold futures rise 0.19 per cent on global cues

Gold is trading at Rs 29,442 per 10 gram.

New Delhi:

Gold prices rose 0.19 per cent to Rs 29,442 per 10 gram in futures trade as participants created fresh positions, tracking a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in August rose by Rs 55 or 0.19 per cent to Rs 29,442 per 10 gram in a business turnover of 12,243 lots.

Likewise, the yellow metal for delivery in far-month October moved up by Rs 50 or 0.17 per cent to Rs 29,670 per 10gram in 324 lots.

Analysts said fresh positions built up by traders in line with a firm global trend on hopes that the US Federal Reserve will delay rate hike, rising demand for the precious metals,influenced gold prices at futures trade here.

Globally, gold rose 0.10 per cent to USD 1,244.70 an ounce in New York on June 6.