Gold prices shoot up to Rs 28,172 per 10 grams

New Delhi: Gold prices rose by Rs 65 to Rs 28,172 per 10 grams in futures trade on Thursday as speculators created positions amid positive cues from the global market.

At the Multi Commodity Exchange, gold for delivery in August moved up by Rs 65, or 0.23 per cent, to Rs 28,172 per 10 gram, in a business turnover of 297 lots.

The metal for delivery in far-month October was trading higher by Rs 57, or 0.20 per cent, to Rs 28,326 per 10 gram, in a turnover of 5 lots.

Analysts said raising of bets by participants in sync with a firming trend in the global market influenced the precious metal here in futures trade.

Meanwhile, gold rose as much as 0.29 per cent to USD 1,226.70 an ounce in New York yesterday.