Gold futures rise 0.16 per cent on global cues

New Delhi: Gold prices rose 0.16 per cent to Rs 28,157 per 10 grams in futures trade as participants created fresh positions, tracking a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in August rose by Rs 44, or 0.16 per cent, to Rs 28,157 per 10 grams in a business turnover of 1 lot.

Likewise, the yellow metal for delivery in June moved up by Rs 31, or 0.11 per cent, to Rs 28,036 per 10 grams in 191 lots.

Analysts said fresh positions built up by traders in line with a firm global trend as weaker-than-expected economic data from the US pressured the dollar and raised appeal of the precious metals as a safe haven.

Globally, gold rose 0.23 per cent to USD 1,230.50 an ounce in Singapore today.