Gold prices went up by 1.56 per cent to Rs 31,070 per 10 grams in futures trade Wednesday as speculators built up fresh positions, tracking a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in October shot up by Rs 478, or 1.56 per cent, to Rs 31,070 per ten grams in a business turnover of 12 lots.
Similarly, the yellow metal for delivery in far-month December was trading higher Rs 453, or 1.45 per cent, at Rs 31,410 per ten grams in 871 lots.
Market analysts said fresh positions created by traders were in sync with a firm global trend as demand for riskier assets picked up after the US and Canada reached an agreement to salvage a North American free trade deal that influcenced gold prices.
Globally, gold rose 0.32 per cent to USD 1,207.60 an ounce in Singapore.
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