Buoyed by a firming global trend, gold prices shot up by another Rs 175 to hit a new high of Rs 26,960 per ten grams in futures trade today.
All the running contracts -- for October, December and far-month February delivery -- were trading at record highs.
At the Multi Commodity Exchange, gold for February delivery shot up by another Rs 175, or 0.65%, to Rs 26,960 per ten grams, with a turnover of 11 lots.
In a similar fashion, the metal for October delivery rose by Rs 163, or 0.36%, to trade at record high of Rs 26,557 per ten grams, with a turnover of 4,347 lots. Similarly, gold for December delivery spurted by Rs 225, or 0.47%, to trade at a record high of Rs 26,720 per ten grams, clocking a turnover of 418 lots.
Market analysts attributed the rise in gold futures prices to enlarging of positions by speculators, in tandem with a firming trend overseas as fears of a global slowdown spurred demand for the precious metal as an alternative investment.
Meanwhile, spot gold prices climbed by $3.70 to $1,792.70 an ounce in the Asian region today.
