Gold prices rose by Rs. 18 to Rs. 21,477 per 10 grams in futures trading today as speculators enlarged their positions after the precious metal climbed to a record high.
At the Multi Commodity Exchange, gold for delivery in August rose by Rs. 18, or 0.08 per cent, to Rs. 21,477 per 10 grams, with a business turnover of six lots.
Similarly, the yellow metal for delivery in June gained Rs. 15, or 0.07 per cent, to Rs. 21,177 per 10 grams, with an open interest of eight lots.
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Analysts attributed the rise in gold futures to a firming trend in the global market, where gold galloped to a new high as fighting in Libya and concerns about European debt spurred demand for an alternative investment.
Meanwhile, gold surged to an all-time high of $ 1,458.50 an ounce in New York yesterday.