Gold prices soared Rs 420 to Rs 28,462 per 10 grams at the futures trade as speculators went for fresh positions on positive cues from global markets.
At the Multi Commodity Exchange, gold for delivery in far-month June was trading sharply higher by Rs 420 or 1.5 per cent at Rs 28,462 per 10 grams in a business turnover of 71 lots.
The metal for delivery in April was also trading higher by Rs 405 or 1.45 per cent at Rs 28,390 in a turnover of 1,323 lots.
Analysts said the rise in global market prices despite the US Federal Reserve raising the benchmark interest rate by a quarter percentage point influenced the precious metal prices at the futures trade here.
Globally, gold was trading 0.42 per cent higher at $1,224.80 an ounce in Singapore today.