Besides, a firming trend at the domestic spot markets on the back of stockists buying ahead of festive season, also supported the rise in gold futures prices here. (Agencies)
At the Multi Commodity Exchange, metal for delivery in October gained Rs 170, or 0.55 percent, to trade higher at Rs 31,263 per 10 gm in a turnover of 490 lots.
Similarly, the metal for delivery in far-month December spurted by Rs 154, or 0.50 percent, to Rs 31,263 per 10 gm, clocking a business volume of 24 lots.
Analysts attributed rise in gold prices at futures trade to the precious metal's gains in the global markets where it rose on rising physical demand.
Further, increased buying at domestic spot markets ahead of festive season also influenced prices, they said. Globally, gold rose 0.68 percent to USD 1,376.10 an ounce in New York on Thursday.
Silver futures recover 0.46 percent on global cues
Tracking a firming trend in base metals overseas, silver futures prices recovered by 0.46 percent to Rs 51,432 per kg as speculators built up fresh positions.
At the Multi Commodity Exchange, silver for delivery in September traded higher by Rs 237, or 0.46 percent, to Rs 51,432 per kg in business turnover of 328 lots.
On the similar lines, the white metal for delivery in far-month December traded Rs 243, or 0.46 percent, higher at Rs 52,517 per kg in a turnover of 10 lots.
In the international market, silver climbed 1.29 percent, to trade at USD 23.19 an ounce in New York on Thursday.
Market analysts said gains in both the precious metals in the global market on rising physical demand mainly influenced silver prices at futures trade here.
Besides, a firming trend at the domestic spot markets on the back of stockists buying ahead of festive season, also supported the rise in gold futures prices here.