Gold futures on MCX opened higher at Rs 26,184 per 10 grams on Monday against the previous close of Rs 26,047. It made a high of Rs 26,345 and low of Rs 26,184. It was up by 1.07 per cent at Rs 26,327 at 1.16 p.m.

In Comex, the yellow metal for June delivery was up by $27 at $1,422 a troy ounce.

Participants engaged in increasing their positions mostly supported by a firming trend overseas after the recent plunge boosted physical demand for the precious metal.

Besides, covering-up of short positions by speculators on fears of further rise in the prices also supported the upside.

The metal for delivery in June contract moved up by Rs 175, or 0.67 per cent, to Rs 26,222 per 10 gm, clocking a business volume of 1,190 lots.

At the spot markets, gold traded Rs 250 higher at Rs 26,600 per 10 gm in the national capital.

Analysts said sustained rise in the global markets as the biggest plunge in prices in three decades boosted physical purchases supported the rise in gold prices at futures trade here.

Rising demand at current levels in the domestic spot market also influenced prices, they said.

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