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Tracking a firm trend overseas on increased physical buying by investors, gold futures prices today rose 0.19 per cent to Rs 27,241 per 10 grams.
Besides covering-up of short positions by speculators fearing further rise, a firm demand at the domestic spot market also supported the upside in gold prices.
At the Multi Commodity Exchange, the metal for delivery in June rose Rs 52 or 0.19 per cent to trade at Rs 27,241 per 10 gm in a turnover of 1,106 lots.
Similarly, the metal for delivery in far-month August edged higher by Rs 44 or 0.24 per cent to Rs 27,621 per 10 gm clocking a business volume of 32 lots.
In the New Delhi spot market, gold traded higher by Rs 100 at Rs 28,100 per 10 gm in the previous session on Saturday. In the last five days, gold prices rose Rs 1,000 per 10 grams.
Analysts said sustained rise in the global market led by physical purchases, supported the rise in gold prices at the futures trade here.
Further, covering-up of short positions by speculators and rising demand at current levels in the domestic spot market also influenced the prices, they said.
Globally, the yellow metal climbed 0.7 per cent to $1,472.78 an ounce in Singapore today. Prices have gone up nearly 5 per cent after touching $1,321.50 on April 16, the lowest level in over two years.
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