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