At the Multi Commodity Exchange, September gold recovered by Rs 55 to Rs 26,793 per 10 grams in futures trade today as speculators enlarged their positions amid a firming trend overseas. The metal had closed 3.26% lower at Rs 26,738 per 10 grams in the previous session.
The October gold rose by Rs 48, or 0.18 per cent, to Rs 27,050 per 10 grams, with a business turnover of 48 lots.
Market analysts attributed the rise in gold futures prices to a firming trend in global markets after the US Federal Reserve refrained from offering more stimulus measures to help economic growth, boosting the appeal of safe haven investments.
They said, however, the rising rupee value limited the gains, as it plays an important role in determining the landed cost of the yellow metal, which is quoted in dollars.
Meanwhile, gold climbed by $3.60 to $1,792.10 an ounce in early trade in the Asian region today.
