Gold prices were up by Rs 48 to Rs 29,560 per 10 grams at the futures trade as speculators raised their bets due to a firm global trend.
At the Multi Commodity Exchange, gold for delivery in far-month February was trading higher by Rs 48 or 0.16 per cent to Rs 29,560 per 10 grams in a business turnover of five lots. The yellow metal for delivery in December gained Rs 42 or 0.14 per cent to Rs 29,412 per 10 grams in 145 lots.
Market analysts attributed the rise in gold prices at the futures trade to positive global cues after President Donald Trump’s move to put North Korea back on a list of state sponsors of terrorism burnished the metal’s safe-haven appeal.
Meanwhile, gold was trading 0.24 per cent higher at $1,279 an ounce in Singapore.