Gold prices rose Rs 248 to Rs 26,939 per 10 grams at the futures trade today as speculators engaged in enlarging positions amid a better trend overseas.
On the Multi Commodity Exchange, gold for delivery in June was up by Rs 248 or 1 per cent to Rs 26,939 per 10 grams in a business turnover of 34 lots.
Similarly, the metal for delivery in April moved up by Rs 250 or 0.94 per cent to Rs 26,727 per 10 grams in a turnover of 921 lots.
Analysts said the rise in gold prices at the futures trade was mostly in line with a firm trend overseas where the precious metal advanced to almost two-week highs after China announced a second interest rate cut in three months and the US reported a slower pace of economic expansion than estimated.
Meanwhile, gold traded 0.8 per cent higher at $1,223.29 an ounce, the highest since February 17 in Singapore.