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Gold prices surged Rs 280 to Rs 30,573 per 10 gram at the futures trade as speculators created positions amid positive global cues.
At the Multi Commodity Exchange, gold for delivery in April moved up by Rs 280 or 0.92 per cent to Rs 30,573 per 10 grams in a business turnover of 1,272 lots. The metal for delivery in far-month June was trading higher by Rs 250 or 0.82 per cent at Rs 30,713 per 10 grams in a turnover of 29 lots.
Analysts said widening of bets by participants largely in sync with a firm trend overseas, as a slide in stock markets helped the precious metal claw back some lost ground after logging its biggest one-day loss in two months in the previous session, influenced gold futures.
Meanwhile, gold rose 0.22 per cent to $1,342 an ounce in Singapore.
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