Gold futures recovers on firm global cues

New Delhi, Mar 11 (PTI)

Gold futures prices rose by 0.41 per cent to Rs 21,510 per 10 grams today, taking positive cues from global market.

Covering up of short positions by speculators also supported the upside in gold prices at futures trade here.

At the Multi Commodity Exchange, the yellow metal for delivery in August rose by Rs 87, or 0.41 per cent, to Rs 21,510 per 10 grams, with a business turnover of two lots.

Likewise, the metal for delivery in April gained Rs 53, or 0.25 per cent, to Rs 20,889 per 10 grams, with a business volume of five lots.

Analysts said gold prices recovered in global market, after recording biggest slump in six weeks yesterday, as concerns about unrest in the Middle East and northern Africa spurred demand for precious metals as a haven.

Meanwhile, in Asian trade gold gained 0.40 per cent to USD 1,416.75 an ounc