Gold prices recover in futures trade on global cues

Gold prices rose by 0.32 per cent, to Rs 27,950 per 10 grams in futures trade as speculators created fresh positions taking positive cues from the global market.

At the Multi Commodity Exchange on Tuesday, gold for delivery in far-month December was up by Rs 90, or 0.32 per cent, to Rs 27,950 per 10 gram in business turnover of 18 lots.

The metal for delivery in October moved up by Rs 76, or 0.27 per cent, to Rs 27,847 per 10 gram in a turnover of 611 lots.

Analysts said fresh positions built-up by participants following a better trend in global market, influenced gold prices at futures trade here.

Meanwhile, gold rose by 0.46 per cent, to $1,282.10 an ounce in Singapore.