Tracking a firm overseas trend, gold prices advanced 0.32 per cent to Rs 29,034 per 10 grams at the futures trade as speculators created fresh positions.
At the Multi Commodity Exchange, gold for delivery in February rose Rs 92 or 0.32 per cent to Rs 29,034 per 10 grams in a business turnover of 429 lots. On similar lines, the yellow metal for delivery in April gained Rs 81 or 0.28 per cent to Rs 29,035 per 10 grams in 16 lots.
Market analysts attributed the rise in prices to a firm trend in global market, where the US dollar declined boosting demand for the yellow metal as an alternative asset. Globally, gold rose 0.19 per cent to $1,289.30 an ounce in Singapore.