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Gold futures prices rose 0.23 per cent to Rs 27,720 per 10 grams today as speculators enlarged positions after the precious metal rose to two-month high in global markets.
At the Multi Commodity Exchange gold for delivery in October rose by Rs 63, or 0.23 per cent, to Rs 27,720 per 10 grams with a business turnover of 9 lots.
August gold moved up by Rs 39, or 0.14 per cent, to Rs 27,650 per 10 grams with a trade volume of 629 lots.
Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets as expectations that borrowing costs in the US will remain low, fueled demand for bullion as an alternative investment.
Meanwhile, gold climbed to $1,322.12 an ounce in Singapore, the highest level since April 15, after a 3.3 per cent jump yesterday that was the biggest increase since September last year.
