Gold prices recovered by Rs 136 to Rs 28,098 per 10 gm at the futures trade today, as speculators created fresh positions after the precious metal rebounded in global markets.
At the Multi Commodity Exchange, gold for delivery in June rose Rs 136 or 0.49 per cent to Rs 28,098 per 10 gm with a business turnover of 1,859 lots. Similarly, August contract moved up by Rs 130 or 0.46 per cent to Rs 28,487 per 10 gm in 286 lots.
Market analysts attributed the rise in gold futures to a firming trend in the Asian region after the Federal Reserve policymakers said more money easing may be needed, and retreat in dollar, raising the demand for precious metals as an alternative investment.
Meanwhile, gold traded higher by 0.79 per cent to $1,552.40 an ounce in Singapore.