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Gold prices rose Rs 2 to Rs 31,529 per 10 gram at the futures trade as speculators widened their bets, tracking a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs 2 or 0.01 per cent at Rs 31,529 per 10 gram in a business turnover of 13,984 lots. Similarly, gold for delivery in far-month April was up Rs 3 or 0.01 per cent at Rs 31,695 per 10 gram with a business volume of 2,092 lots.
Analysts said widening of bets by participants, taking positive cues from global market as dollar’s weakness raised the demand for the precious metal as a safe-haven, mainly pushed up gold prices at the futures trade. Globally, gold rose 0.1 per cent to $1,246.4 an ounce in Singapore.
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