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Gold prices rose Rs 93 to Rs 22,241 per 10 grams at the futures trade today as speculators enlarged their positions in tandem with a firming global trend.
Trading sentiment turned better as gold and silver advanced in the global markets as faster-than-forecast inflation in China and a resurgence of Europe’s sovereign-debt crisis increased the demand for precious metals as a store of value.
At the Multi Commodity Exchange, gold for June delivery rose Rs 93 or 0.42 per cent to Rs 22,241 per 10 grams with a business volume of three lots. Similarly, August contract moved up by Rs 95 or 0.42 per cent to Rs 22,529 per 10 grams with an open interest of a single lot.
Market analysts said apart from a firming global trend, increased buying by speculators mainly pushed up gold futures prices.
Meanwhile, the yellow metal gained 0.5 per cent to $1,524.40 per ounce in the Asian region.
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