Gold futures up by 0.31% to Rs 31,239 on global cues

Gold prices went up by 0.31 per cent to Rs 31,239 per 10 grams in futures trade today as speculators built up fresh positions, taking positive cues from overseas markets.

At the Multi Commodity Exchange, gold for delivery in August month rose by Rs 96, or 0.31 per cent to Rs 31,239 per 10 grams in business turnover of 511 lots.

Likewise, the yellow metal for delivery in October month contract was trading higher by Rs 58, or 0.18 per cent to Rs 31,492 per 10 grams in 1 lot.

Analysts said participants created fresh positions in line with a firm trend overseas.

Globally, gold rose 0.11 per cent to USD 1,300.20 an ounce in Singapore.