Gold futures rise 0.16% on global cues

Fresh buying by speculators supports uptrend

Gold prices rose by Rs 51 to Rs 31,440 per 10 grams in futures trade today as speculators created fresh positions, taking positive cues from overseas markets.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 51, or 0.16%, to Rs 31,440 per 10 grams, with a business turnover of 335 lots.

December gold moved up by Rs 44, or 0.14%, to Rs 31,066 per 10 grams, with a business turnover of 4,088 lots.

Marketmen said fresh buying by speculators in tandem with a firm global trend led to the rise in gold futures.

The gold in Singapore climbed 0.3% to $1,716.05 an ounce.