Gold prices rose by Rs 119 to Rs 26,638 per 10 grams in futures trade today as speculators created fresh positions on cues from overseas markets.At the Multi Commodity Exchange, Gold for delivery in April was up by Rs 119, or 0.45 per cent, to Rs 26,638 per 10 grams, with a business turnover of 698 lots.Similarly, the metal for delivery in June moved up by Rs 108, or 0.40 percent, to Rs 26,789 per 10 grams, with a trade volume of six lots.
Dollar weakness has been fueling the rally in gold as economic uncertainties and speculation on more monetary easing by central banks drive investors to bullion as an alternative investment. Technically market is under fresh selling as market has witnessed gain in open interest by 1.24% to settled at 9145 while prices down -172 rupee.