Tracking a firm global trend, gold prices surged 1.14 per cent to Rs.26,421 per ten grams in futures trade today as speculators enlarged their positions.
At the Multi Commodity Exchange, gold for delivery in August contract rose by Rs.297, or 1.14 per cent to Rs.26,421 per ten grams in business turnover of 9 lots. Similarly, the yellow metal for delivery in June contract gained Rs.287, or 1.12 per cent to Rs.25,987 per ten grams in 2,528 lots.
Market analysts said speculators enlarged their positions in tandem with a firming global trend mainly led to rise in gold prices at futures trade. Meanwhile, gold rose 2.6 per cent to USD 1,426.05 an ounce in London.
Source: Bullion Bulletin