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Gold prices rose Rs 40 or 0.15 per cent to Rs 27,369 per 10 grams at the futures trade today as speculators indulged in created fresh position on pick-up in demand at the spot market amid weakness in the rupee.
At the Multi Commodity Exchange counter, gold for delivery in February rose Rs 40 or 0.15 per cent to Rs 27,369 per 10 grams with a business turnover of 1,254 lots. Similarly, April contract gained Rs 34 or 0.12 per cent to Rs 27,696 per 10 grams with a business volume of 60 lots.
Analysts attributed the rise in gold prices to a weakening rupee, which plays an important role in fixing the landed cost of the dollar-traded metal.
Also, absence of cues as most of the global markets are closed on account of New Year, cast its shadow on the domestic sentiment, they said.
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