Gold recovered by 0.54% to Rs 27,944 per 10 grams in futures trade on global cues

Precious metal recovered by 0. 54% to Rs 27, 944 for each 10 grams in futures trade today, tracking a better trend overseas as euro zone debt woes boosted the appeal of the commodity as a substitute investment avenue.

At the Multi Commodity Exchange, gold Oct delivery moved up by Rs 151, or 0. 54%, in order to Rs 27, 793 per 10 grams, with a trading amount of 2, 539 lots.

Similarly, the metal for December shipping rose by Rs 143, or 0. 51%, to Rs twenty-eight, 230 per 10 grams, with a turnover of 165 plenty.

Market analysts attributed the rise in gold futures prices to some firming trend overseas, as investors parked their funds in safer havens amid deepening from the euro zone debt crisis.

Meanwhile, spot gold prices flower by 0. 30% to $1, 820. 35 an ounce within the Asian region today. They had reached a record $1, 921. 15 for each ounce on September 6.