Gold futures surge 0.17% on global cues

Gold prices rose by Rs 45 or 0.17% to Rs 27,180 per 10 grams in futures trade today after participants created fresh positions taking cues from overseas markets.

At the Multi Commodity Exchange, gold for delivery in December rose by Rs 45, or 0.17 per cent, to Rs 27,180 per 10 grams, with a business turnover of 522 lots.Similarly, the metal for delivery in far-month February moved up by Rs 43, or 0.16 per cent, to Rs 27,399 per 10 grams in a trade volume of 2 lots.

Marketmen said fresh positions built-up by speculators in line with global trend ahead of the outcome of the US Federal Reserve monetary policy meeting, mainly led to a rise in gold futures.Globally, gold in Singapore traded 0.16 per cent higher at USD 1,229.80 an ounce in early trade today.