Gold futures recover Rs 300 on fresh positions

New Delhi: Gold prices were higher by a sharp Rs 300 to Rs 30,866 per 10 gram in futures trade Thursday after speculators created fresh positions, tracking a firm trend overseas.

At the Multi Commodity Exchange, gold for delivery in February traded higher by Rs 300, or 0.95 per cent, to Rs 30,866 per 10 gram in a business turnover of 14,009 lots.

The gold for delivery in far-month April rose by Rs 197, or 0.62 per cent, to Rs 31,926 per 10 gram in 3,748 lots.

Marketmen attributed the recovery in gold prices at futures trade to building up of fresh positions by speculators on the back of a firming trend in overseas market.

Globally, gold was trading 0.71 per cent higher at USD 1,290.15 an ounce in Singapore.