Gold prices rose Rs 87 to Rs 29,246 per 10 grams at the futures trade today as speculators enlarged their positions, driven by a firm trend in the Asian region.
On the Multi Commodity Exchange, gold for delivery in February rose Rs 87 or 0.3 per cent to Rs 29,246 per 10 grams in a business turnover of 325 lots. Likewise, the metal for delivery in April moved up by Rs 92 or 0.32 per cent to Rs 28,546 per 10 gm in 20 lots.
Market analysts said a firm global trend on speculation that its biggest annual decline since 1981 is spurring increased demand in Asia influenced gold prices at the futures trade.
Meanwhile, the yellow metal rose 0.8 per cent to $1,246.46 an ounce, the highest level since December 17 in Singapore today.