Gold prices rose by Rs 78 to Rs 29,358 per 10 grams in futures trading today as speculators enlarged positions amid a firming trend in the global markets.
At the Multi Commodity Exchange, the August contract for gold rose by Rs 78, or 0.27%, to Rs 29,358 per 10 grams, with a business turnover of 6,116 lots.
The October contract moved up by Rs 74, or 0.25%, to Rs 29,700 per 10 grams, with a business turnover of 471 lots.
Market analysts attributed the rise in gold futures to a firming in the global markets after data showed that US retail sales unexpectedly declined last month, increasing speculation that the Federal Reserve will take more steps to shore up the world's biggest economy.
Meanwhile, gold traded 0.40% higher at $1,596.25 an ounce in Singapore.
