Supported by firm trend overseas and a pick up in spot demand, gold prices rose by Rs 75 to Rs 31,475 per 10 grams in futures trade today as speculators created fresh positions.
At the Multi Commodity Exchange, gold for delivery in October rose by Rs 75, or 0.24%, to Rs 31,475 per 10 grams, with a business turnover of 1,821 lots.
December gold traded higher by Rs 63, or 0.20%, to Rs 31,774 per 10 grams, with a business turnover of 556 lots.
Marketmen said fresh positions created by speculators, driven by a firming trend overseas as central banks and investors bought the metal to hedge against the prospect of weaker currencies and slowing growth, led to the rise in gold prices at futures trade.
Recovery in the domestic market on fresh demand supported the uptrend, they said.
Meanwhile, gold rose 0.2% to $1,764.55 an ounce in Singapore.
