Gold Price: Futures rise 1.01 per cent on global cues

Gold prices on Monday rose 1.01 per cent to Rs 40,765 per 10 gram in futures trade as speculators were indulged in creating fresh positions amid a firm global trend.

On the Multi Commodity Exchange, gold contracts for April traded higher by Rs 407, or 1.01 per cent, to Rs 40,765 per 10 gram in a business turnover of 1,464 lots.

The yellow metal for June delivery edged up by Rs 562, or 1.39 per cent, to Rs 40,965 per 10 gram in a business turnover of 258 lots.

Fresh positions built up by participants on positive cues from global markets mainly led to rise in gold prices, analysts said.

Globally, gold prices rose 0.90 per cent to USD 1,501.50 per ounce in New York.