Gold price goes up on positive global cues

New Delhi, Oct 23: Gold prices were up by Rs 86 to Rs 31,980 per 10 grams in futures trade Tuesday as speculators raised their bets amid positive global cues.

At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 86, or 0.27 per cent, to Rs 31,980 per 10 grams in a business turnover of 475 lots.

The yellow metal for delivery in November month contracts gained Rs 85, or 0.27 per cent, to Rs 31,814 per 10 grams in 5,251 lots.

Market analysts attributed the rise in gold prices at futures trade to raising of bets by participants, in sync with a better trend in global market.

Meanwhile, gold was trading 0.16 per cent higher at USD 1,224.70 an ounce in Singapore.