Gold futures climb Rs 63 on global cues

New Delhi: Gold prices were trading up by Rs 63 to Rs 27,914 per 10 grams in futures trade today as speculators created positions amid positive cues from the global market.

At the Multi Commodity Exchange, gold for delivery in August shot up by Rs 63, or 0.23 per cent, to Rs 27,914 per 10 grams in a business turnover of 306 lots.

The metal for delivery in October was trading higher by Rs 62, or 0.22 per cent, to Rs 28,105 per 10 grams in a turnover of 1 lot.

Analysts said a firming trend overseas as the Federal Reserve Janet Yellen's reiterated a call for gradual interest-rate hikes amid weakening dollar raising the demand of the precious metal, influenced gold prices here in futures trade.

Meanwhile, gold rose 0.20 per cent to USD 1,222.40 an ounce in Singapore.