Gold prices rose by Rs. 246 to Rs. 28,664 per 10 gm

New Delhi – Gold prices rose by Rs. 246 to Rs. 28,664 per 10 gm in futures trade today as speculators created fresh positions taking positive cues from overseas markets.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs. 246, or 0.87 per cent, to Rs. 28,664 per 10 gm, with a business turnover of 687 lots.

Similarly, the metal for delivery in April moved up by Rs. 203, or 0.73 per cent, to Rs. 27,890 per 10 gm, with a trade volume of 45 lots.

Marketmen said fresh positions built-up by speculators after the precious metals rallied from their worst year in more than three decades in global markets as a decline to a six-month low spurred physical purchases influenced gold futures here.

Globally, gold in Singapore climbed to $1,224.09 an ounce from $1,205.65 on December 31.