Gold recovers 0.21% on positive global cues

TIL Desk/Business/New Delhi-Gold prices were up by 0.21 per cent to Rs 31,380 per 10 gram in futures trade today as speculators enlarged positions amid a firm global trend. At the Multi Commodity Exchange, gold for delivery in August was trading higher by Rs 65 or 0.21 per cent to Rs 31,380 per 10 gram in a business turnover 1,061 lots.

The yellow metal for delivery in October gained Rs 50 or 0.16 per cent to Rs 31,660 per 10 gm in 60 lots. Market analysts attributed rise in gold prices at futures trade to positive global cues as the precious metal advanced as the likelihood of an interest rate increase in the US diminished following Britain s vote to quit the European Union. Meanwhile, gold rose 0.7 per cent to USD 1,321.30 an ounce in Singapore.