Gold futures rise on global cues

Gold prices rose by Rs 49 to Rs 31,689 per 10 gm in futures trade today as speculators created fresh positions, taking positive cues from overseas markets. At the Multi Commodity Exchange, gold for delivery in December rose by Rs 49, or 0.15 per cent, to Rs 31,689 per 10 gm, with a business turnover of 403 lots. Similarly, the metal for delivery in February moved up by Rs 53, or 0.17 per cent, to Rs 32,100 per 10 gm, with a business turnover of 36 lots.

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Marketmen said fresh buying by speculators in tandem with a firm global trend as the weakening dollar boosted appeal for the metal, mainly led to a rise in gold futures. Globally, the gold in Singapore climbed 0.6 per cent to USD 1,723.70 an ounce.