Gold futures up by Rs 258 on firm global cues

Gold prices rose by Rs 258 to Rs 32,131 per 10 gram in futures trade Monday as speculators raised their bets, taking positive cues from the global markets. At the Multi Commodity Exchange, gold for delivery in June contracts was trading higher by Rs 258, or 0.81 per cent, to Rs 32,131 per 10 gram in a business turnover of 15,354 lots.

In global markets, the precious metal soared to a new high with decline in the dollar and investors keeping a watch on minutes of the US Federal Reserve's March meeting later this week, say reports. In the domestic market, the prices were up on increase in demand from local jewellers.

On the Multi Commodity Exchange, gold for delivery in far-month August was trading up by Rs 286, or, 0.89 per cent, to Rs 32,281 per 10 gram. Globally, the gold was trading 0.61 per cent higher at USD 1,296.90 an ounce in Singapore.