Gold prices firm up by Rs 60 in domestic markets

Gold prices rose by Rs 60 to Rs 31,964 per 10 gram in futures trading Monday as speculators widened their bets in the domestic markets, despite a tepid trend overseas.

On the Multi Commodity Exchange, gold for delivery in June was trading higher by Rs 60, or 0.19 per cent, at Rs 31,964 per 10 gram in a business turnover of 8,991 lots.

Analysts said raising of bets by participants, taking positive cues from domestic markets, mainly pushed up gold prices at futures trade here.

Similarly, gold for August delivery was up by Rs 58, or 0.18 per cent, at Rs 32,129 per 10 gram with a business volume of 115 lots.

Globally, however, the precious metal remained choppy over the fears of an escalating Sino-US trade war and mixed economic outlook.

The yellow metal was trading 0.28 per cent lower at USD 1,283.80 an ounce in New York.