Gold futures jump to Rs 27,293 on global cues…

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Gold prices rose Rs 215 to Rs 27,293 per 10 gram at the futures trade today as speculators created fresh positions after the precious metal advanced to a four-week high in global market.

On the Multi Commodity Exchange, gold for delivery in February 2015 rose Rs 215 or 0.79 per cent to Rs 27,293 per 10 gram in a business turnover of 12 lots.

Similarly, the metal for delivery in December moved up by Rs 194 or 0.72 per cent to Rs 27,158 per 10 gram in a turnover of 157 lots.

Analysts said recovery in the precious metal overseas as concern that global growth is slowing, stoked bets that the US Federal Reserve may push back interest rate increases, boosting the demand for a safe-haven. This in turn helped gold to trade higher at the futures trade here.

Meanwhile, gold advanced as much as one per cent to $1,235.01 an ounce in Singapore, the highest price since September 17.

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