New Delhi | Gold prices were up by Rs 193 to Rs 31,481 per 10 grams in futures trade Thursday as speculators created positions amid positive cues from the global market.
At the Multi Commodity Exchange, gold for delivery in far-month October shot up by Rs 193 or 0.62 per cent to Rs 31,481 per 10 grams in a business turnover of 263 lots.
The metal for delivery in August was trading higher by Rs 184 or 0.59 per cent to Rs 31,170 per 10 grams in a turnover of 1,129 lots.
Analysts said a firming trend overseas after the US Federal Reserve indicated it would take a slow measured approach to any interest rate hikes amid weakening dollar raising the demand of the precious metal, influenced the precious metal here in futures trade.
Meanwhile, gold rose 1.52 per cent to USD 1,39.70 an ounce in New York yesterday.