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Gold prices were trading up by Rs 63 at Rs 27,914 per 10 grams at the futures trade today as speculators created positions amid positive cues from the global market.
At the Multi Commodity Exchange, gold for delivery in August shot up by Rs 63 or 0.23 per cent to Rs 27,914 per 10 grams in a business turnover of 306 lots.
The metal for delivery in October was trading higher by Rs 62, or 0.22 per cent, to Rs 28,105 per 10 grams in a turnover of 1 lot.
Analysts said a firm trend overseas as the Federal Reserve Janet Yellen’s reiterated a call for gradual interest-rate hikes amid weak dollar raising the demand of the precious metal, influenced gold prices at the futures trade.
Meanwhile, gold rose 0.20 per cent to $1,222.40 an ounce in Singapore.
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