 "Gold")
Gold prices spurted by Rs 408 to Rs 30,852 per 10 gram in futures trade as speculators raised their bets after the precious metal climbed above $1,300 an ounce in the global markets.
In futures trading at the Multi Commodity Exchange, gold for delivery in August rose by Rs 408 or 1.34% to Rs 30,852 per 10 gram in a business turnover of 1,627 lots.
Also, the precious metal for delivery in far-month October was trading higher by Rs 408 or 1.33% to Rs 31,084 per 10 gram in 92 lots.
Analysts said rally in gold prices in the global market, where it again went past $1,300 after the Federal Reserve scaled back the outlook for interest-rate increase and Fed Chair Janet Yellen signaled rates may stay lower for longer, raised appeal of the yellow metal, influenced gold futures here.
Besides, covering-up short positions by speculators also supported the upside, they said.
Globally, the metal's rates zoomed as much as $10.80 or 0.94% to $1,302.30 an ounce in Singapore.
