Gold prices rose by 0.38 per cent to Rs 21,908 per 10 grams in futures trade on Wednesday supported by a firming trend in the domestic markets as well as overseas.
At the Multi Commodity Exchange, gold for delivery in June gained Rs 84, or 0.38 per cent to trade at Rs 21,908 per 10 grams, clocking a business turnover of 2,378 lots.
Likewise, the metal for delivery in August advanced by Rs 29, or 0.13 per cent to Rs 21,600 per 10 grams, with a business volume of 180 lots.
Analysts attributed the rise in
gold prices at futures trade to a firming trend in global market as signs of a slowdown in the global economy raised demand for precious metals as an alternative investment.
Meanwhile, gold gained 0.30 per cent to USD 1,490.65 an ounce in Asian trade at Singapore.
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