Gold futures prices today rose 0.22% to Rs 29,242 per 10 grams, as speculators enlarged positions, tracking a firm trend in the spot markets driven by a pick-up in demand on 'Akshaya Tritiya' festival even as the metal weakened overseas.
At the MCX, gold for delivery in far-month August rose by Rs 63, or 0.22%, to Rs 29,242 per 10 grams, with a business turnover of 77 lots.
The June contract moved up by Rs 61, or 0.21%, to Rs 28,842 per 10 grams, with a trade volume of 1,284 lots.
Market analysts said that the rise in gold futures was mainly due to a firming trend in spot markets on increased buying activity, driven by "Akshaya Tritiya', considered as an auspicious day in Hindu mythology for buying the precious metal.
Meanwhile, gold surged to nearly two-month high of Rs 29,070 per 10 grams in the national capital in Monday's trade. Globally, gold fell 0.13% to $1,636.20 an ounce in early trade in Singapore today.