Gold gains by 0.2% on global cues

Gold prices rose by Rs 64 to Rs 26,765 per 10 grams in futures trade today as speculators created fresh positions amidst positive cues from the global market.

At the Multi Commodity Exchange, gold for delivery in June moved up by Rs 64, or 0.24%, to Rs 26,765 per 10 grams in a business turnover of 197 lots.

The metal for delivery in August was trading higher by a similar margin at Rs 26,925 per 10 grams in a turnover of just one lot.

Analysts said a firming trend in global market where gold recovered from five-week lows as conflicting US data clouded the outlook for higher rates before Federal Reserve policy makers meet this week, influenced the precious metal here in futures trade.

Meanwhile, gold rose as much as 0.4% to $1,183.60 an ounce in Singapore.

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