Gold prices recovered by Rs 70 or 0.27 per cent to Rs 26,274 per 10 grams at the futures trade as speculators created fresh positions taking positive cues from the global market.
At the Multi Commodity Exchange, gold for delivery in far-month August rose Rs 70 or 0.27 per cent to Rs 26,274 per 10 gram in a business turnover of 98 lots.
Similarly, the metal for delivery in June moved up by Rs 69 or 0.26 per cent to Rs 26,157 per 10 gm in a turnover of 738 lots.
Analysts said a firming trend in global market after Moody’s Investors Service said that the US may face a credit downgrade, mainly influenced gold prices at the futures trade here.
Meanwhile, the yellow metal rose 2.49 per cent to $1,394.10 an ounce in New York yesterday.