Gold rises yet again

Gold prices rebounded in futures trade on Friday, rising 1.31 per cent to hover near Rs 1.56 lakh per 10 grams, supported by firm global cues and renewed geopolitical tensions between the United States and Iran that reinforced safe-haven demand. On the Multi Commodity Exchange (MCX), April gold futures advanced by Rs 1,315, or 0.85 per cent, to Rs 1,56,134 per 10 grams, with a business turnover of 7,355 lots. The domestic rally tracked strength in international markets, where COMEX gold futures for April delivery climbed $49.55, or 1 per cent, to $5,046.95 per ounce.