Amid a firm trend in the global market, gold prices rose 0.2 per cent to Rs 31,820 per 10 gram at the futures trade today as speculators created fresh positions.

Besides, a firm trend at the domestic spot market on the back of stockists buying ahead of festive season, also supported the rise in futures prices.

On the Multi Commodity Exchange, the yellow metal for delivery in October gained Rs 66 or 0.2 per cent to trade at Rs 31,820 per 10 gm in a turnover of 655 lots.

Similarly, gold for delivery in far-month December gained Rs 65 or 0.21 per cent to Rs 31,756 per 10 gram in a business volume of 41 lots.

Analysts attributed the rise in gold prices at the futures trade to the precious metal’s gains in the global market on speculation that the US Federal Reserve may hold off on curbing stimulus measures in September after slump in new home sales in July.

Further, increased buying at the domestic spot market ahead of festive season also influenced the prices, they said.

Globally, gold rose 0.7 per cent to $1,407.18 an ounce in Singapore, the highest since June 7.

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