NEW DELHI, Aug 23: Gold futures prices today recovered by 0.55 per cent to Rs 31,310 per 10 grams as speculators created fresh positions on positive global cues.
Besides, a firming trend at the domestic spot markets on the back of stockists buying ahead of festive season, also supported the rise in gold futures prices here.
At the Multi Commodity Exchange, metal for delivery in October gained Rs 170, or 0.55 per cent, to trade higher at Rs 31,263 per 10 gm in a turnover of 490 lots.
Similarly, the metal for delivery in far-month December spurted by Rs 154, or 0.50 per cent, to Rs 31,263 per 10 gm, clocking a business volume of 24 lots.
Analysts attributed rise in gold prices at futures trade to the precious metal’s gains in the global markets where it rose on rising physical demand.
Further, increased buying at domestic spot markets ahead of festive season also influenced prices, they said.
Globally, gold rose 0.68 per cent to USD 1,376.10 an ounce in New York yesterday. (PTI)
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