Gold prices rose by Rs 40, or 0.15 %, to Rs 27,369 per 10 grams in futures trade on Monday as speculators indulged in created fresh position on pick-up in demand in the spot market amid weakness in the rupee.
At the Multi Commodity Exchange counter, gold for delivery in February rose by Rs 40, or 0.15 %, to Rs 27,369 per 10 grams, with a business turnover of 1,254 lots.
Similarly, the metal for delivery in April gained Rs 34, or 0.12 %, to Rs 27,696 per 10 grams, with a business volume of 60 lots.
Analysts attributed the rise in gold prices to a weakening rupee, which plays an important role in fixing the landed cost of the dollar-traded metal.
Also, absence of cues as most of the global markets are closed on account of New Year, also shadowed the sentiments, they said.