Gold extended gains for the second straight day by adding 1.6 per cent to Rs 28,246 per 10 grams at the futures trade today as speculators enlarged their positions on the back of a firm global trend.

At the Multi Commodity Exchange, gold for delivery in October added Rs 244 or 1.6 per cent to Rs 28,246 per 10 grams in a business turnover of 22,743 lots.

Similarly, the metal for delivery in December hardened by Rs 428 or 1.52 per cent to Rs 28,513 per 10 grams in a business volume of 1,455 lots.

Market analysts said that increased buying by speculators in tandem with a firm global trend mainly helped gold futures to gain.

Meanwhile, the yellow metal rose 0.5 per cent to $1,880.03 an ounce in Singapore.