Gold futures up 0.19% on firm global trend, demand

Gold futures rose by 0.19 per cent to Rs 27,537 per 10 grams on Tuesday, as speculators created fresh positions on the back of a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 53, or 0.19 per cent, to Rs 27,537 per 10 grams, with a business turnover of 796 lots.

The metal for delivery in February also rose by similar margin to Rs 27,890 per 10 grams, with a trading volume of 24 lots.

Market analysts attributed the rise in gold futures to a firming trend overseas on the back of an increase in physical and investment demand for the precious metal.

Meanwhile, gold rose by 0.60 per cent to $1,653 an ounce in Singapore in early trade on Tuesday.