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Supported by a firming trend in Asia, gold prices rose Rs 246 to Rs 26,910 per 10 grams at the futures trade today on pick-up in demand for the festive season.
Trading sentiment remained firm as gold advanced in Asia on concerns that Europe’s sovereign-debt crisis may deepen after Slovakia’s lawmakers rejected enhancement of the region’s bailout fund, spurring the demand for haven assets.
At the Multi Commodity Exchange, gold for delivery in December rose Rs 246 or 0.91 per cent to Rs 26,910 per 10 grams with a business turnover of 11,642 lots.
Likewise, the metal for delivery in February moved up by Rs 237 or 0.88 per cent to Rs 27,175 per 10 grams with an open interest of 287 lots.
Market analysts said sustained buying by speculators on pick-up in demand due to festive season amid a firming trend in the Asian region, mainly pushed up gold prices at the futures trade.
Meanwhile, the yellow metal rose 0.7 per cent to $1,673.30 an ounce in Singapore.
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