Gold futures rebound on firm global cues

Gold futures rebound on firm global cues New Delhi: Gold prices rose by Rs 55 to Rs 25,864 per 10 gm in futures trade as speculators created fresh positions after the precious metal rebounded from a 34-month low in the global markets.

At the Multi Commodity Exchange, gold for delivery in far-month October was up by Rs 55, or 0.21 percent, to Rs 25,864 per 10 gm in business turnover of 36 lots.

The metal for delivery in August contracts moved up by Rs 44, or 0.17 percent, to Rs 25,713 per 10 gm in a turnover of 1,363 lots.

Analysts said recovery in the precious metal in the global market where it rebounded from a 34-month low in the global markets amid signs of increased demand for jewellery, coins and gold bars, mainly helped gold to trade higher at futures trade here.

Meanwhile, gold rose by 0.62 percent to USD 1,243.90 an ounce in Singapore.

PTI