Gold futures prices rose 0.39 per cent to Rs 26,761 per 10 grams today as speculators created fresh positions on positive global cues as a weaker dollar overseas boosted the demand for the precious metal.
Besides, covering-up of short positions by speculators at prevailing levels, also influenced gold futures prices here.
On the Multi Commodity Exchange, the yellow metal for delivery in August gained Rs 103 or 0.39 per cent to trade at Rs 26,761 per 10 gm in a turnover of 1,313 lots.
Similarly, the metal for delivery in far-month October spurted Rs 102 or 0.38 per cent to Rs 26,870 per 10 gm clocking a business volume of 173 lots.
Analysts attributed the rise in gold prices at the futures trade to the precious metal’s rise in the global market as a weak dollar boosted its demand as an alternative investment. Further, covering-up of short positions by speculators also supported the upside.
Globally, gold rose 0.8 per cent to $1,294.93 an ounce in Singapore today.