Gold prices recovered by Rs 95 or 0.55 per cent to Rs 18,125 per ten gram in futures trade today on emergence of buying by speculators and firming trend overseas.
The precious metal for June contract rose by Rs 95, or 0.55 per cent to Rs 18,125 per 10 grams on the Multi Commodity Exchange, recording a business volume of 1,418 lots.
The gold for August contract rose by Rs 93, or 0.49 per cent to Rs 18,215 per 10 grams, with a trading volume of 106 lots. The December contract attracted Rs 34, or 0.19 per cent to Rs 18,325 per 10 grams in one lot.
Traders said buying activity picked up and wiped off the previous day's losses, as the metal in overseas markets rose and investors bought the metal on speculation that Europe’s debt-cutting measures will slow the economic growth.
They said buying in spot markets for the current marriage season and the upcoming auspicious festival of Akshya Tritiya on Sunday, also fuelled the trading sentiment in futures trading.
Meanwhile, the gold in Asian region, normally sets the price trend in domestic spot markets here climbed 0.3 per cent to $1,236.53 an ounce.