Gold prices rose Rs 54 to Rs 27,579 per 10 grams at the futures trade today as speculators created fresh positions motivated by a firming global trend.
At the Multi Commodity Exchange, gold for delivery in December gained Rs 54 or 0.20 per cent to Rs 27,579 per 10 grams with an open interest for 5,729 lots. In a similar fashion, February contract was trading higher by Rs 54 or 0.19 per cent at Rs 27,909 per 10 grams in 334 lots.
Market analysts said the trading sentiment improved after gold advanced in Asia as concerns that a Greek referendum will threaten Europe’s plan to end the region’s debt crisis spurred the demand for the previous metal as a safe haven investment.
Meanwhile, the yellow metal rose 0.5 per cent to $1,728.10 an ounce in Singapore.