Gold prices rose by 0.38% to Rs 28,340 per 10 grams in futures trade today, tracking a better trend overseas as the escalating European debt crisis spurred the demand for the metal as a protection of wealth.
At the Multi Commodity Exchange, October gold moved up by Rs 106, or 0.38%, to Rs 28,340 per 10 grams, with a trading volume of 6,875 lots.
The December contract rose by Rs 99, or 0.35%, to Rs 28,627 per 10 grams, with an open interest for 415 lots.
Market analysts attributed the gains in gold futures prices to a firming trend overseas as concern about Europe's sovereign-debt crisis spurred demand for the metal as a haven investment.
Meanwhile, spot gold prices climbed by 0.60% to $1,844.98 an ounce in the Asian region today.