Gold futures rise 0.08% on global cues

Tracking a firm trend overseas, gold traded higher by 0.08 per cent to Rs 27,187 per 10 grams in futures market today as traders enlarged positions.

At the Multi Commodity Exchange, gold for delivery in far-month February rose by Rs 23, or 0.08 per cent, to Rs 27,187 per 10 grams, in a business turnover of 87 lots.

Analysts attributed the rise in gold prices to a firming trend overseas as the US dollar weakened against a basket of major currencies, raising demand for the precious metals as a safe haven.

Meanwhile, gold rose 0.41 per cent to USD 1,139.30 an ounce in Singapore.