Tracking a firm trend overseas, gold prices rose by another 0.53 per cent to Rs 29,468 per 10 grams at the futures trade as speculators engaged in enlarging their positions.
At the Multi Commodity Exchange, gold for delivery in October rose Rs 156 or 0.53 per cent to Rs 29,468 per ten grams in a business turnover of 2 lots.
In a similar fashion, the yellow metal for delivery in August was trading higher by Rs 138 or 0.47 per cent at Rs 29,355 per ten grams in 1,289 lots.
Market analysts said widening of positions by participants in tandem with a firm trend overseas mainly kept gold prices higher at the futures trade.
Globally, gold rose 0.58 per cent to $1,286.70 an ounce in Singapore.
Silver
Silver prices rose 0.29 per cent to Rs 40,570 per kg at the futures trade as traders built up fresh positions, driven by a firm trend overseas.
At the Multi Commodity Exchange, silver for delivery in July went up by Rs 117 or 0.29 per cent to Rs 40,570 per kg in a business turnover of 1,236 lots.
Likewise, the white metal for delivery in September contracts was trading higher by Rs 116 or 0.28 per cent at Rs 41,040 per kg in 9 lots.
Market analysts said fresh positions created by participants on the back of a firm trend in global markets mainly attributed to the rise in silver prices at the futures trade.
Meanwhile, silver rose 0.49 per cent to $17.61 an ounce in Singapore.