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Gold prices climbed by Rs 351 to Rs 27,200 per 10 grams in futures trade today after participants widened their positions, tracking a firming trend overseas coupled with rising demand at domestic spot markets.
At the Multi Commodity Exchange, gold for delivery in October was sharply up by Rs 351 or 1.31% to Rs 27,200 per 10 gram in a business turnover of 1,659 lots.
The metal for delivery in far-month December spurted by by Rs 344 or 1.27% to Rs 27,417 per 10 gram in a turnover of 53 lots.
Market analysts said a firming trend in global markets where the precious metal advanced for the fifth day to the highest level in a month on signs the Federal Reserve may delay an interest rate increase as inflation remains low, boosting the metal's appeal as a haven, influenced gold prices at futures trade here.
Gold prices spurted by Rs 365 to over six-week high of Rs 26,700 per 10 gram in the national capital in yesterday's trade.
Meanwhile, gold climbed as much as 0.8% to $1,161.31 an ounce in Singapore today, the highest level since July 13. The precious metal had surged 1.6% in yesterday's trade.
