NEW DELHI: Gold prices rose sharply by Rs 424, or 1.53 per cent, to Rs 28,180 per 10 gm in futures trade on firm global cues. At the Multi Commodity Exchange, gold for delivery in far-month December was up sharply by Rs 424, or 1.53 per cent, to Rs 28,180 per 10 gm in business turnover of 63 lots. The metal for delivery in October also moved up by Rs 422, or 1.53 per cent, to Rs 28,328 per 10 gm in a turnover of 1,627 lots. Analysts said a firming trend in the global market where gold climbed to the highest level this month after holdings in the biggest bullion-backed exchange-traded product expanded for the first time since June, mainly supported the upside in the precious metal prices at futures trade here. Besides, a firming trend in the domestic spot markets on the back of increased buying for the festive and marriage season also influenced prices, they said. Meanwhile, gold rose by 1.50 per cent to USD 1,333.94 an ounce in Singapore, the highest price since July 31.

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