Tracking a firming trend in global markets, gold prices rose by Rs 64 to Rs 27,080 per 10 grams in futures market on Friday, as speculators created fresh positions to meet the ongoing festive demand.
Trading sentiments for gold turned firm after gold gained in London on concern about Europe’s debt crisis and increased domestic demand ahead of Diwali.
At the Multi Commodity Exchange, gold for delivery in February rose by Rs 64, or 0.24 per cent, to Rs 27,080 per 10 grams, with a business turnover of 413 lots.
Similarly, the metal for delivery in December gained Rs 59, or 0.22 per cent, to Rs 26,808 per 10 grams, with a business volume of 14,616 lots.
Market analysts said fresh buying by speculators to meet the coming festival demand amid firming trend in global markets, mainly led to rise in gold prices at futures trade.
Meanwhile, gold gained $ 7.74 to $ 1,675.88 an ounce in London.