Gold futures prices rose 0.23 per cent to Rs 27,720 per 10 grams today as speculators engaged in enlarging their positions after the precious metal rose to a two-month high in global market.
On the Multi Commodity Exchange, gold for delivery in far-month October rose Rs 63 or 0.23 per cent to Rs 27,720 per 10 grams with a business turnover of 9 lots.
In a similar fashion, the metal for delivery in August moved up by Rs 39 or 0.14 per cent to Rs 27,650 per 10 grams with a trade volume of 629 lots.
Market analysts said the rise in gold futures was mainly in line with a firm trend in overseas market as expectations that borrowing costs in the US will remain low, fuelled the demand for bullion as an alternative investment.
Meanwhile, the yellow metal climbed to $1,322.12 an ounce in Singapore, the highest level since April 15, after a 3.3 per cent jump yesterday that was the biggest increase since September last year.