NEW DELHI: Gold prices rose by Rs 25 to Rs 29,585 per 10 grams in futures trade today as speculators created fresh positions even as the precious metal weakened overseas.
At the Multi Commodity Exchange, gold for delivery in August rose by Rs 25, or 0.08 per cent, to Rs 29,585 per 10 grams, with a business turnover of 210 lots.
Similarly, the yellow metal for delivery in June moved up by Rs 21, or 0.07 per cent, to Rs 29,218 per 10 grams, with a business turnover of 3,256 lots.
Market analysts attributed the rise in gold prices at futures trade to a firming trend in the spot markets, where the precious metal soared to record high on the back of rising demand and a weakening rupee, which fell to over 4-month low against the dollar.
At the spot markets, gold glittered to hit a record high of Rs 29,695 per 10 gram in the bullion market here yesterday.
Meanwhile, gold lost 1.2 per cent at $ 1,634.80 an ounce in New York in yesterday's trade.
