Gold takes gain forward, up by 0.7% on global cues

Continuing its winning run, gold prices rose by another Rs 232 to Rs 31,922 per 10 gram in futures trade today amid a firm global trend

At the Multi Commodity Exchange, gold for delivery in far-month October was trading higher by Rs 232 or 0.73% to trade at Rs 31,922 per 10 gram in a business turnover 18 lots.

On similar lines, the yellow metal for delivery in August gathered another Rs 224 or 0.71% to Rs 31,625 per 10 gm in 863 lots.

Analysts attributed persistent rise in gold prices at futures trade to a firming trend overseas where gold surged for a second day as shock waves continued to reverberate through financial markets following the Britain's vote to exit the European Union, boosting demand for safe haven assets.

In a deadly blow to the 28-nation bloc, Britain on Friday voted to leave the EU, forcing Prime Minister David Cameron to announce resignation in the wake of defeat in the referendum whose result triggered a panic reaction in world markets.

Meanwhile, gold climbed 1.5% to $1,335.55 an ounce in Singapore.

The metal was propelled as high as $1,358.54 on Friday to a level not seen since March 2014, and the 8.1% gain was the biggest intraday jump since 2008.