New Delhi: Gold prices rose 0.47 per cent to Rs 27,980 per 10 gram in futures trade on July 1 as speculators created fresh positions taking positive cues from overseas markets. At the Multi Commodity Exchange, gold for delivery in far-month October contracts traded at Rs 131, or 0.47 per cent, to Rs 27,980 per 10 gram with a business turnover of 8 lots.
Similarly, the metal for delivery in August moved up by Rs 120, or 0.43 per cent, to Rs 27,896 per 10 gram, with a trade volume of 179 lots. Marketmen said increased positions built-up by speculators after the precious metal traded at almost three-month high in global markets with holdings in the SPDR, the biggest gold-backed exchange-traded product, expanding 0.7 per cent yesterday, influenced gold futures here. Globally, gold climbed 0.90 per cent to USD 1,326.90 an ounce in New York in yesterday's trade.
