Gold prices shot up Rs 204 to reclaim Rs 26,000 per 10 gram level for the first time in almost one month at the futures trade today as speculators enlarged positions amid a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in far-month April spurted Rs 204 or 0.79 per cent to trade at Rs 26,085 per 10 gram in a business turnover of 25 lots.
Also, the yellow metal for delivery in February was trading higher by Rs 187 or 0.76 per cent higher at Rs 25,936 per 10 gram in 515 lots.
Analysts said a firm trend in the global markets, where gold jumped to a two-month high after Chinese shares plunged more than 7 per cent and the country’s stock exchanges closed early for the second time this week after the central bank today lowered the yuan against the US dollar by 0.51 per cent, buoyed gold futures here.
Globally, gold surged as much as 0.8 per cent to $1,102.85 an ounce in Singapore today.