Gold prices were up by Rs 168 at Rs 29,879 per 10 gram at the futures trade as speculators created positions amid positive cues from the global market.

At the Multi Commodity Exchange, gold for delivery in far-month December shot up by Rs 168 or 0.57 per cent at Rs 29,879 per 10 gram in a business turnover of 45 lots. Similarly, the metal for delivery in October was trading higher by Rs 167 or 0.56 per cent to Rs 29,731 per 10 gram in a turnover of 827 lots.

According to analysts, a firm trend overseas, where gold rebounded from a four-week low as the latest twist in tensions between the US and North Korea shifted investors' attention towards safe-haven asset, influenced the precious metal at the futures trade here.

US President Donald Trump had yesterday said that he was putting more sanctions against North Korea, the country which has been carrying ballistic missile and nuclear tests in violation of the UN Security Council resolutions.

Meanwhile, gold rose 0.57 per cent to $1,298 an ounce in Singapore today.