Gold moves up in futures trade on global cues

Gold prices rose by Rs 76 to Rs 31,925 per 10 gm in futures trade today as speculators created fresh positions, taking a positive cues from overseas markets.

At the Multi Commodity Exchange, gold for delivery in December rose by Rs 76, or 0.24 per cent, to Rs 31,925 per 10 gm in business turnover of 4,550 lots.

Similarly, the yellow metal for delivery in the February contract moved up by Rs 62, or 0.19 per cent, to Rs 32,293 per 10 gm in 1,066 lots.

Market analysts said fresh buying by speculators in tandem with a firm global trend after investors boosted holdings to an all-time high and central banks added to reserves as Europe's debt crisis persisted mainly led to rise in gold futures.

Meanwhile, gold rose by 0.11 per cent to USD 1731.60 an ounce in Singapore.

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