Tracking a firming global trend,
gold prices surged by Rs 208 to Rs 26,815 per 10 grams in futures trade on Wednesday on brisk buying by speculators.
At the Multi Commodity Exchange, gold for delivery in February surged by Rs 208, or 0.78 per cent, to Rs 26,815 per 10 grams, with a business turnover of 18 lots.
PERSPECTIVE:
Uncertainties add glitter to gold Similarly, the metal for delivery in October rose by Rs 106, or 0.40 per cent, to Rs 26,331 per 10 grams, with a business turnover of 6,282 lots.
Market analysts attributed the rise in gold futures prices to enlarging of positions by speculators on expectations of pick-up in demand during festive season amid a firming global trend.
Meanwhile, gold climbed 0.3 per cent to $1,790.60 an ounce in Asian region.
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