Gold prices rose 1.1 per cent to Rs 28,729 per ten gram at the futures trading today as speculators enlarged positions, tracking a firm global trend.

On the Multi Commodity Exchange, gold for delivery in June edged higher by Rs 312 or 1.1 per cent to Rs 28,729 per ten gram in a business turnover of 4,943 lots.

Likewise, the yellow metal for delivery in August moved up by Rs 267 or 0.95 per cent to Rs 28,402 per ten gram in 98 lots.

Analysts attributed the rise in gold futures to a firm global trend where the yellow metal advanced to over two-week high as the US Federal Reserve minutes played down the forecasts by some of the bank’s own policy makers that interest rates might rise faster than they previously predicted.

Meanwhile, gold rose 0.5 per cent to $1,318.13 an ounce, the highest level since March 24 in Singapore.

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