Gold is trading at Rs 31,938 per 10 gram as traders raised bets amid positive cues from domestic markets.
Gold prices dropped nearly 7 per cent from the recent high of February 2019. Weakness in gold prices will attract more buyers to gold.
New Delhi: Gold prices rose 0.08 per cent at Rs 31,938 per 10 gram in futures trade on Monday as traders raised bets amid positive cues from domestic markets.
Gold to be delivered by June contracts was trading higher by Rs 27, or 0.08 per cent, at Rs 31,938 per 10 gram in a business turnover of 13,053 lots at the Multi Commodity Exchange.
Similarly, the metal for delivery in August contracts also gained Rs 10, or 0.03 per cent, to Rs 32,090 per 10 gram in 3,614 lots.
Analysts attributed the rise in the precious metal to widening of positions by participants in line with a firm trend in the domestic markets.
Meanwhile, gold was trading a shade lower by 0.18 per cent at USD 1,282.54 an ounce in Singapore.
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