Gold futures up 0.19 per cent on global cues

Gold futures rose by 0.19 per cent to Rs 27,537 per 10 grams on Tuesday, as speculators created fresh positions on the back of a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 53, or 0.19 per cent, to Rs 27,537 per 10 grams, with a business turnover of 796 lots.

The metal for delivery in February also rose by similar margin to Rs 27,890 per 10 grams, with a trading volume of 24 lots.

Market analysts attributed the rise in gold futures to a firming trend overseas on the back of an increase in physical and investment demand for the precious metal.

Meanwhile, gold rose by 0.60 per cent to $1,653 an ounce in Singapore in early trade on Tuesday.