Supported by a firming trend in Asia, gold prices rose by Rs 246 to Rs 26,910 per 10 grams in futures trade today on pick-up in demand for the festive season.
Trading sentiment remained firm as gold advanced in Asia on concern that Europe's sovereign-debt crisis may deepen after Slovakia's lawmakers rejected enhancement of the region's bailout fund, spurring the demand for haven assets.
At the Multi Commodity Exchange, December gold rose by Rs 246, or 0.91%, to Rs 26,910 per 10 grams, with a business turnover of 11,642 lots.
The February contract moved up by Rs 237, or 0.88%, to Rs 27,175 per 10 grams, with an open interest of 287 lots.
Market analysts said sustained buying by speculators on pick-up in demand due to the festive season amid a firming trend in Asian region, mainly pushed up gold prices at futures trade.
Meanwhile, gold rose by 0.7% to $1,673.30 an ounce in Singapore.
