Gold futures rose by 0.80 per cent in early trade on the Multi Commodity Exchange today as speculators enlarged their fresh positions influenced by a firming trend in the spot market.
At 1100 hrs on the MCX, gold for delivery in June, the most active contract, rose by 0.80 per cent to Rs 14,741 per 10 grams, in trading of 1,260 lots. August gold moved up by 0.75 per cent to Rs 14,744 per 10 grams, with a trading volume of 59 lots.
Marketmen said traders and speculators indulged in creating their positions expecting prices to pick up in the spot market as demand rises on account of the'Akshay Tritya'-festival, an auspicious day in Hindu Mythology for the purchase of gold.
Meanwhile, gold traded higher in the Asian region at $917 an ounce against the last close of $910.30.