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Gold prices rose sharply by Rs 150 or 0.57 per cent to Rs 26,618 per 10 grams at the futures trade today after speculators enlarged positions taking cues from overseas market.
At the Multi Commodity Exchange, gold for delivery in far-month April 2015 spurted Rs 150, or 0.57 per cent, to Rs 26,618 per 10 gram, with a business volume of 12 lots.
Similarly, the metal for delivery in February moved up by Rs 144, or 0.55 per cent, to Rs 26,505 per 10 grams, clocking a business turnover of 566 lots.
Marketmen said fresh positions built-up by speculators in tandem with overnight gains in overseas market as signs that money supplies will rise in Europe and Asia revived the demand for precious metal, mainly led to a rise in gold futures.
Globally, gold in New York traded 0.93 per cent higher at $1,204.20 an ounce in yesterday’s trade.
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