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Gold prices rose by Rs 215 to Rs 27,293 per 10 gram in futures trade today as speculators created fresh positions after the precious metal advanced to four-week high in global markets.
At the Multi Commodity Exchange, gold for delivery in February 2015 rose by Rs 215, or 0.79%, to Rs 27,293 per 10 gram in business turnover of 12 lots.
The metal for delivery in December moved up by Rs 194, or 0.72%, to Rs 27,158 per 10 gram in a turnover of 157 lots.
Analysts said recovery in the precious metal overseas as concern that global growth is slowing, stoked bets that the US Federal Reserve may push back interest-rate increases, boosting demand for a safe-haven that helped gold to trade higher at futures trade here.
Meanwhile, gold advanced as much as one% to USD 1,235.01 an ounce in Singapore, the highest price since September 17.
