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Buoyed by a firming global trend, gold prices shot up by another Rs 175 to hit a new high of Rs 26,960 per ten grams at the futures trade today.
All the running contracts — for October, December and far-month February delivery — were trading at a record high.
At the Multi Commodity Exchange, gold for delivery in far-month February shot up by another Rs 175 or 0.65 per cent to Rs 26,960 per ten grams with a turnover of 11 lots.
In a similar fashion, the metal for delivery in October rose Rs 163 or 0.36 per cent to trade at record high of Rs 26,557 per ten grams with a turnover of 4,347 lots.
Similarly, December contract spurted by Rs 225 or 0.47 per cent to trade at a record high of Rs 26,720 per ten grams clocking a turnover of 418 lots.
Market analysts attributed the rise in gold futures prices to enlarging of positions by speculators in tandem with a firming trend overseas, as fears of a global slowdown spurred the demand for the precious metal as an alternative investment.
Meanwhile, spot gold prices climbed by $3.70 to $1,792.70 an ounce in the Asian region today.
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