Gold prices bounce back in futures trade on global cues

At the Multi Commodity Exchange, gold for delivery in October moved up by Rs 151, or 0.54 per cent, to Rs 27,793 per 10 grams, with a trading volume of 2,539 lots.

Similarly, the metal for December contract delivery rose by Rs 143, or 0.51 per cent, to Rs 28,230 per 10 grams, with a turnover of 165 lots.

Market analysts attributed the rise in gold futures prices to a firming trend overseas, as investors parked their funds in safer havens amid deepening of the euro zone debt crisis.

Meanwhile, spot gold prices rose by 0.30 per cent to USD 1,820.35 an ounce in the Asian region today. They had reached a record USD 1,921.15 per ounce on September 6.

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