TODAY COMMODITY NEWS FOR Gold futures

Gold futures rose in the domestic market on Friday as investors and speculators created fresh positions in the precious metal amid a firm trend in overseas markets. 

Gold futures rose in the overseas markets on Friday as aggressive policy easing from global central banks boosted the appeal of the bullion, which is a hedge against the inflationary risk of monetary stimulus. The ECB cut interest rates to a record low and said that monetary policy will remain accommodative for as long as needed while the US Federal Reserve stuck to its USD 85 billion bond buying program to boost US economic growth. 

All eyes are on the US non-farm payrolls data for the month of April to be released later today which may determine the outlook for further US stimulus. 

At the MCX, Gold futures, for the June 2013 contract, are trading at Rs 27,138 per 10 gram, up by 0.83 per cent, after opening at Rs 27,020, against a previous close of Rs 26,914. It touched an intra-day high of Rs 27,149. (At 15:33 PM).

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