Gold futures up Rs 86 amid firm global cues

Gold prices rose by Rs 86 to Rs 29,649 per 10 grams in futures trading on Friday as speculators raised their bets amid a firming trend overseas.

At the Multi Commodity Exchange of India (MCX), gold for delivery in far-month June rose by Rs 86 or 0.29% to Rs 29,649 per 10 grams in a business turnover of 6 lots.

Similarly, the yellow metal for delivery in April was trading higher by Rs 76 or 0.26% to Rs 29,385 per 10 grams in 268 lots.

Analysts said a firming trend in the global markets where the precious metal advanced further on sustained demand for the safe-haven asset as financial markets were roiled by further volatility in equities and oil, influenced gold in India.

Globally, gold surged 1.85% to $1,230.70 (nearly Rs 84,253.72) an ounce in New York on Thursday.