Gold futures recover 0.34% on firm global cues

NEW DELHI: Gold futures prices recovered by 0.34 per cent, to 27,632 per 10 grams today, as speculators created fresh positions driven by a firming global trend as a weaker dollar bolstered demand for the metal.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 95, or 0.34 per cent, to Rs 27,632 per 10 grams, with a business turnover of 1,839 lots.

The metal for delivery in April contract moved up by Rs 86, or 0.31 per cent, to Rs 27,996 per 10 grams, with a trade volume of 183 lots.

Market analysts attributed to recovery in gold futures to a firming global trend after the metal traded at almost four- week high as a weaker dollar bolstered demand for commodities.

Meanwhile, gold futures rose by 1.5 per cent to USD 1,631.50 an ounce in New York last night, the highest closing since December 13.