Futures rebound on firm global cues

Gold prices snapped their three-day losing streak and rebounded by Rs572 to Rs 1,09,624 per 10 grams in the domestic futures market driven by value buying and firm global cues after the US Federal Reserve’s rate cut.

Gold futures for October delivery climbed 0.52 per cent in a turnover of 12,685 lots. Silver prices also surged in line with gains in gold.

The white metal futures for December delivery rallied Rs 1,668 or 1.31 per cent to Rs 1,28,800 per kilogram in 17,935 lots. The March next year contract climbed 1.22 per cent.