Gold futures recover Rs 124 on global cues

New Delhi, May 5 (PTI) Gold prices recovered by Rs 124 to Rs 28,196 per 10 grams in futures trade today as speculators created positions at prevailing levels amid positive cues from the global market. At the Multi Commodity Exchange, gold for delivery in June was trading higher by Rs 124, or 0.44 per cent, at Rs 28,196 per 10 grams with a volume of 862 lots. The precious metal for delivery in August also rose by Rs 100, or 0.35 per cent, to Rs 28,270 per 10 grams in a turnover of 23 lots. Analysts said, rebound in global market where the precious metal rebounded from six-week low, influenced gold prices here in futures trade. Meanwhile, gold rose as much as 0.39 per cent to USD 1,232.95 an ounce in Singapore. PTI