Gold prices rose by another 0.10 per cent to Rs 28,714 per ten grams at the futures trading today as participants enlarged positions, tracking a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in June gained Rs 28 or 0.10 per cent to Rs 28,714 per ten grams in a business turnover of 41 lots.
Likewise, the metal for delivery in April traded higher by Rs 26 or 0.09 per cent to Rs 28,484 per ten grams in 1,433 lots.
Analysts said a firm trend overseas, where gold rallied for an eighth straight day after topping $1,200 an ounce for the first time since June, as increased concern about the state of the global economy hurt equity markets and boosted demand for a haven.
Meanwhile, gold rose 0.5 per cent to $1,195.66 in Singapore. The metal had jumped to $1,200.97 yesterday, the highest since June 22, and a climb on Tuesday would cap the longest run of gains since 2011.
Pick up in demand at domestic spot market further fuelled the upside, they said.