Tracking a firming global trend, gold prices rose by Rs 116 to Rs 30,010 per 10 grams in futures trade today as speculators enlarged their positions.
Sentiment bolstered in global markets after Spain asked for a bailout and on speculation that demand from China will be sustained.
The euro rallied on the news pushing the dollar lower, thus making dollar-denominated commodities cheaper for importers to purchase.
At the MCX, gold for delivery in October rose by Rs 116, or 0.25%, to Rs 30,010 per 10 grams, with a business turnover of 214 lots.
The August contract moved up by Rs 66, or 0.22%, to Rs 29,610 per 10 grams in 7,929 lots.
Market analysts said increased buying by speculators on hopes of a rise in the spot market demand amid a firming global trend mainly led to a rise in gold prices futures.
Meanwhile, gold rose 0.9% to $1,608.25 an ounce in Singapore.