Gold prices rose by Rs 87 to Rs 29,246 per 10 grams in futures trade today as speculators enlarged their positions, driven by a firming trend in the Asian region.
At the Multi Commodity Exchange, gold for delivery in February rose by Rs 87, or 0.30 per cent, to Rs 29,246 per 10 grams in business turnover of 325 lots.
Likewise, the metal for delivery in April moved up by Rs 92, or 0.32 per cent, to Rs 28,546 per 10 gm in 20 lots. Market analysts said a firming global trend on speculation that its biggest annual decline since 1981 is spurring increased demand in Asia influenced gold prices at futures trade.
Meanwhile, gold rose by 0.80 per cent to USD 1,246.46 anounce, the highest level since December 17 in Singapore today.