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Gold prices zoomed by Rs 397 to Rs 26,170 per 10 gram at the futures trade today as speculators took fresh positions on positive cues from global markets.
On the Multi Commodity Exchange, gold for delivery in October was sharply up by Rs 397 or 1.54 per cent at Rs 26,170 per 10 gram in a business turnover of five lots.
Similarly, the metal for delivery in far-month December also shot up Rs 352 or 1.36 per cent to Rs 26,426 per 10 gram in a turnover of 596 lots.
Market analysts said the rise in global market prices, after the US jobs data fuelled speculation that the Federal Reserve will not hike key interest rates any time soon, raised the demand for gold and other commodities. This influenced gold prices at the futures market in India as well.
Globally, gold was trading at $1,137.94 an ounce in Singapore today. The precious metal had rallied 2.2 per cent on Friday.
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