Gold price recovered by 0.15 per cent in futures trade on Thursday, as participants created fresh positions, after the precious metal rebounded in the global market. Analysts attributed recovery in gold prices here to the precious metal's recovery in the global markets after plunging to a 34-month low in Wednesday's trade. The yellow metal rose 1.4 per cent to $1,244.06 an ounce in Singapore on Thursday, after plunging to $1,222 on Wednesday. Traders said covering-up of short positions by speculators also influenced prices in the national capital. At the Multi Commodity Exchange, metal for delivery in August gained Rs 40, or 0.15 per cent, to trade higher at Rs 26,176 per 10 gm in a turnover of 2,262 lots. Similarly, the metal for delivery in far-month October edged higher by Rs 31, or 0.12 per cent, to Rs 26,483 per 10 gm, clocking a business volume of 57 lots.

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