Gold futures up 0.74% on positive global cues

Tracking a firm trend overseas, gold prices advanced by 0.74 per cent to Rs 30,939 per 10 grams in futures trading today as speculators enlarged positions.

At the Multi Commodity Exchange, gold for delivery in far-month June rose by Rs 227, or 0.74 per cent to Rs 30,939 per ten grams in business turnover of 286 lots.

On similar lines, the yellow metal for delivery in April was trading higher by Rs 222, or 0.73 per cent to Rs 30,715 per ten grams in 777 lots.

Analysts said expanding of positions by participants on the back of a firming trend in the global markets where gold prices rose to a two-week high on a softer dollar as investors scurried to safety after US President Donald Trump took a step towards long-promised anti-China tariffs, stoking fears of a global trade war, influenced gold prices at futures trade.

Globally, gold rose 0.68 per cent to USD 1,337.60 an ounce in Singapore.