Gold futures rise 0.07 pc on fresh bets

Gold prices Wednesday rose 0.07 per cent to Rs 31,445 per 10 grams in futures trade as participants created fresh positions, tracking firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 23, or 0.07 per cent, to Rs 31,445 per 10 grams in a business turnover of 12,783 lots.

Also, the delivery in April contracts gained Rs 11, or 0.03 per cent, to Rs 31,555 per 10 gram in business volume of 3,317 lots.

A pick-up in demand from local jewellers supported gold prices, traders said.

Tracking gold, silver rates too gained Rs 150 to Rs 39,250 per kg on increased demand from industrial units and coin makers.

Globally, gold rose USD 6.61, or 0.53 per cent, to USD 1,285.11 an ounce in Singapore.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)