Gold futures up by Rs 86 on firm global cues

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

At the Multi Commodity Exchange, gold for delivery in far-month June rose by Rs 86 or 0.29 per cent 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 per cent 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 a safe-haven assets as financial markets were roiled by further volatility in equities and oil, influenced gold here.Globally, gold surged 1.85 per cent to USD 1,230.70 an ounce in New York yesterday.