Bullion futures advance on firm cues

Gold prices jumped by Rs 1,458 to Rs 1,25,312 per 10 grams in the futures trade, tracking firm global trends as investors raised bets of an interest rate cut by the US Federal Reserve next month after soft signals from its officials.

Gold futures for December delivery appreciated by 1.18 per cent in a business turnover of 8,599 lots. Silver futures also witnessed buying interest in tandem with gold.

The white metal for December delivery surged by Rs 2,583, or 1.67 per cent, to Rs 1,57,065 per kilogram in 9,492 lots.

“Gold prices rose to around $4,140 per ounce on Tuesday, building on gains from the previous session as expectations for an interest rate cut next month increased further after dovish Fed signals,” Jigar Trivedi, Senior Research Analyst at Reliance Securities, said.