Gold prices spurted by Rs 223 to Rs 28,884 per 10 gram in futures trade as speculators widened their bets taking positive cues from the global market. At Multi Commodity Exchange, gold for delivery in June was trading Rs 223 or 0.78 per cent higher at Rs 28,884 per 10 gram in a business turnover of 8,627 lots.
The metal for delivery in far-month August also moved up by Rs 209 or 0.72 per cent to trade at Rs 29,043 per 10 gram in a turnover of 854 lots.
Analysts said raising of positions by participants following Friday’s gains in the precious metals in global market, supported the upside in gold futures here.
Meanwhile, gold surged 0.90 per cent to end at USD 1,266.70 an ounce in New York on Friday