Gold futures up on spot demand

New Delhi: Gold prices rose by Rs 306 to Rs 34,747 per 10 gram in futures trade Tuesday as participants created fresh positions tracking a firm trend overseas.

On the Multi Commodity Exchange, gold for delivery in August contracts traded higher by Rs 306, or 0.89 per cent, to Rs 34,747 per 10 gram in a business turnover of 19,575 lots.

The gold for delivery in October contracts, too, rose by Rs 308, or 0.89 per cent, to Rs 34,968 per 10 gram in 5,008 lots.

Marketmen said, the rise in gold prices at futures trade was mostly due to widening of positions by participants in domestic markets.

Globally, the gold was trading a shade higher by 1.03 per cent at USD 1,432.80 an ounce in Singapore.