Gold futures rise marginally on global cues

New Delhi, July 23

Gold futures were trading a shade higher at Rs 30,188 per 10 grams as traders raised bets amid positive cues from global markets.

At the Multi Commodity Exchange, gold for delivery in October was up by Rs 11, or 0.04 per cent, at Rs 30,188 per 10 grams in a business turnover of 22 lots.

Similarly, the metal for delivery in August gained Rs 7, or 0.02 per cent, to Rs 29,927 per 10 grams, in 277 lots.

Analysts attributed the rise in gold prices in futures market to a firming trend overseas where it rose as the dollar eased to its lowest in nearly two weeks after US President Donald Trump criticised the Federal Reserve’s interest rate tightening policy, raising demand for the precious metal as safe haven investment.

Meanwhile, gold was trading 0.20 per cent higher at USD 1,234.24 an ounce in Singapore. PTI