Gold prices shot up by Rs 65 on Thursday as speculators created positions amid positive global cues.
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.