Gold prices rose Rs 29 to Rs 27,965 per 10 grams at the futures trade today, as speculators enlarged their positions on hopes of a rise in demand during the marriage season amid firming global trend.
At the Multi Commodity Exchange, gold for delivery in April rose Rs 29 or 0.1 per cent to Rs 27,965 per 10 grams with a business turnover of 7,671 lots. Likewise, the metal for delivery in June gained Rs 22 or 0.08 per cent to Rs 28,299 per 10 grams in 234 lots.
Market analysts said increased buying by speculators on expectations of pick-up in demand during marriage season amid firming global trend mainly led to a rise in gold futures prices.
Meanwhile, the yellow metal rose $8.50 to $1,728.40 an ounce in the Asian region.