Gold futures spurt Rs 186 on global cues

Gold rose by Rs 186 to Rs 27,165 per 10 grams in futures trading on Wednesday as speculators widened positions, tracking a firming trend overseas. 

At the Multi Commodity Exchange, gold for delivery in December spurted Rs 186, or 0.69 percent, to Rs 27,165 per 10 grams, in a business turnover of 836 lots. 

Similarly, the metal for delivery in far-month February was also trading higher by Rs 181, or 0.67 percent, to Rs 27,370 per 10 grams in nine lots. 

Market analysts said speculators enlarged their positions on the back of a firming global trend as investors see less chance of higher US borrowing costs this year. 

Globally, gold climbed as much as 0.5 percent to USD 1,174.81 an ounce in Singapore, the highest level since July 6.

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