Gold recovered 0.54 per cent to Rs 27,944 for 10 grams in futures trade today, tracking a better trend overseas as Euro zone debt woes boosted the appeal of the commodity as an alternative investment avenue.
At the Multi-Commodity Exchange, gold for delivery in October moved up Rs 151, or 0.54 per cent, to Rs 27,793 for 10 grams, with a trading volume of 2,539 lots.
Similarly, the metal for December contract delivery rose by Rs 143, or 0.51 per cent, to Rs 28,230 per 10 grams, with a turnover of 165 lots.
Market analysts attributed the rise in gold futures prices to a firming trend overseas, as investors parked their funds in safer havens amid deepening of the Euro zone debt crisis.
Meanwhile, spot gold prices rose 0.30 per cent to $1,820.35 an ounce in the Asian region today. They had reached a record $1,921.15 per ounce on September 6.
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