Gold futures higher on global cues

Gold futures higher on global cues

Mumbai: India’s gold futures opened slightly higher in early trade on Monday tracking international cues, analysts said.

The benchmark February gold on the MCX was at Rs16,894 per 10 grams, up 0.42% at 10:57am.

International gold inched higher on Monday in light trading as many investors stayed on the sidelines after US and European markets were closed late last week for Christmas.

“Gold prices look attractive at these levels," said Kapil Gandhi of New Futures Advisors.

Analysts said technically February contract has breached 18,600 resistance levels and is likely to test 16,920-16,970 levels during the session.