Taking positive cues from the global market, gold prices rose marginally by 0.3 per cent to Rs 31,834 per 10 grams at the futures trade today as speculators created fresh positions.

At the Multi Commodity Exchange, gold for delivery in April moved up by Rs 95 or 0.3 per cent to trade at Rs 31,834 per 10 grams with a turnover of 85 lots.

Similarly, gold for February delivery gained Rs 86 or 0.27 per cent to Rs 31,418 per 10 grams with a business volume of 2,246 lots.

Marketmen said gains in gold prices at the futures trade was mostly due to a firming trend overseas on hopes that US lawmakers will reach an agreement on the budget to avert automatic spending cuts.

Globally, gold rose 0.3 per cent to $1,702.40 an ounce in early trade in Singapore.

(This article was published on December 18, 2012)
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