Gold futures gain 0.41 per cent on global cues

New Delhi: Gold prices moved up by 0.41 per cent to Rs 30,989 per 10 grams in futures trade on Thursday as speculators built up fresh positions, taking positive cues from overseas markets.

At the Multi Commodity Exchange, gold for delivery in August month rose by Rs 128, or 0.41 per cent to Rs 30,989 per 10 grams in business turnover of 505 lots. Likewise, the yellow metal for delivery in October month contract was trading higher by Rs 106, or 0.34 per cent to Rs 31,200 per 10 grams in 5 lots.

Analysts said participants created fresh positions in line with a firm trend overseas where gold prices edged higher on Thursday, supported by a weaker dollar amid ongoing concerns about a trade war between the US and its allies. Globally, gold rose 0.12 per cent to USD 1297.40 an ounce in Singapore.