Gold futures prices rose by 0.16% to Rs 28,528 per 10 gm today as speculators enlarged their positions on the back of firming global trends.
Market analysts said the rise in gold futures was due to a firming trend in the overseas market after the International Monetary Fund raised its global economic growth forecast from 3.3% to 3.5%, thus boosting the demand outlook for gold and other commodities.
Gold, usually a safe-haven asset, was moving in tandem with other commodities like base metals, today.
However, strength in rupee against the dollar limited the rise in domestic gold prices.
At the MCX, gold for delivery in June rose by Rs 46, or 0.16%, to Rs 28,528 per 10 gm, with a business turnover of 699 lots.
The August contract was up by Rs 43, or 0.15 per cent, at Rs 28,930 per 10 gm, with a trade volume of 7 lots.