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Gold Price Edges up by Rs 14 on Firm Global Cues

Image for representative purposes. (Photo: Reuters)

New Delhi: Gold prices rose by Rs 14 to Rs 28,075 per 10 grams in futures trading on as speculators enlarged their positions amid a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month April rose by Rs 14, or 0.05 percent to Rs 28,075 per 10 grams in a business turnover of one lot.

Similarly, the yellow metal for delivery in February was trading higher by Rs 9, or 0.03 percent to Rs 28,060 per 10 grams in 88 lots.

Analysts said, a firming trend in the global markets as weakness in the dollar raised demand for the precious metal as a safe haven investment, mainly influenced gold prices at futures trade here.

Globally, gold rose as much as 0.43 percent to USD 1,185.90 an ounce in Singapore.

Source: News18