Buoyed by a firm trend in the overseas markets, gold futures prices today climbed to an all-time high of Rs 31,029 per 10 grams as speculators indulged in enlarging positions.

Rising spot demand in the domestic market for the wedding season also pushed the gold futures to trade at a record high, traders said.

At the Multi Commodity Exchange, gold for delivery in December rose Rs 352 or 1.23 per cent to a new record of Rs 31,029 per 10 grams with a business turnover of 209 lots.

Similarly, gold prices for delivery in October gained Rs 382 or 1.3 per cent to trade at Rs 30,699 per 10 grams with a turnover of 3,149 lots.

Marketmen said the sentiment was bolstered after the yellow metal rose to a 16-week high overseas as dollar weakened amid speculation that central banks in the US and China may ease monetary policy to boost their economies.

This, in turn raised the demand for the precious metal as an alternative investment.

In Singapore, gold prices rose 1.2 per cent to trade at an almost four-month high of $1,662.70 an ounce.

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