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Gold futures rose 1.14 per cent to Rs 27,903 per 10 grams today as speculators created fresh positions, buoyed by a firm trend overseas amid a weak dollar.
At the Multi Commodity Exchange, gold for delivery in February rose by Rs 334, or 1.14 per cent, to Rs 27,903 per 10 grams, with a business turnover of 6,006 lots.
The metal for delivery in April also rose Rs 304, or 1.09 per cent to Rs 28,2580 per 10 grams, with a trading volume of 1,156 lots.
Marketmen said gold soared to 7-week high in the global markets after the Federal Reserve’s said it would keep US borrowing costs low.
Besides, the dollar fell against major currencies, boosting demand for the precious metals.
Gold rose $9.70 to $1,720.50 an ounce in New York yesterday’s trade.
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