In response to positive cues from global markets, gold prices rose to Rs 26,502 per 10 gram, which amounts to about 0.13 percent rise as speculators created fresh positions.
According to industry analysts, the jump in the mood in futures market definitely relates to upcoming speech from Federal Reserve Chief Janet Yellen, which is likely to provide more clarity on the bank’s plan for an interest rate hike.
At the Multi Commodity Exchange, gold for delivery in October was up by Rs. 35 or 0.13 per cent to Rs.26, 502 per 10 gram in a business turnover of 15 lots.
The metal for delivery in far-month December moved up Rs. 36 or 0.13 per cent to Rs. 26,720 per 10 gm in a turnover of 15 lots.
Even in Singapore, the precious metal climbed as much as 0.42 percent to $1,135 an ounce today, reflecting the positive mood in the trade.