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Gold futures prices recovered by 0.11% to Rs 28,395 per 10 gram today as speculators enlarged their positions in tune with a better trend overseas.
At the Multi Commodity Exchange, gold for delivery in December up by Rs 30, or 0.11%, to Rs 28,395 per 10 gram, with a business turnover of 345 lots.
In a similar fashion, gold for delivery in the far-month February last year contracts gained Rs 26, or 0.09%, to Rs 28,150 per 10 gram, with a trade volume of 7 lots.
Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets as US Senate leaders struggled to draft an accord to increase the debt limit and avert a default before a deadline this week.
Meanwhile, gold rose by 0.50% to $1,279.05 an ounce in Singapore today after dropping to $1,260.61 on October 11, the lowest since July 11, on expectations that an agreement would be reached.
