Gold futures rise 0.27% on global cues

Gold prices rose by 0.27 per cent to Rs 31,013 per 10 gram in futures trade as participants created fresh positions, tracking a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in far-month December rose by Rs 82, or 0.27 per cent, to Rs 31,013 per 10 gram, in a business turnover of 36 lots.
Likewise, the yellow metal for delivery in October moved up by Rs 78, or 0.25 per cent, to Rs 30,891 per 10 gram in 242 lots.
Analysts said fresh positions built up by traders in line with a firm global trend where gold rebounded from the lowest level in more than two weeks ahead of policy meetings at the US Federal Reserve and the Bank of Japan this week, influenced the sentiment.

Globally, gold rose 0.4 per cent to USD 1,315.30 an ounce in Singapore from USD 1,310.35 on Friday, the lowest close since August 31.