Gold prices rose by Rs 54 to Rs 32,797 per 10 gm in futures trade today as speculators enlarged their positions, taking positive cues from overseas market.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 54, or 0.16 per cent, to Rs 32,797 per 10 gm in business turnover of 161 lots.

Similarly, the yellow metal for delivery in the December contract moved up by Rs 44, or 0.14 per cent, to Rs 32,403 per 10 gm in 505 lots.

Market analysts attributed rise in gold prices at futures trade to a firming trend in global markets after euro-area finance ministers reached a pact on Greece’s debt burden, boosting the euro, and investors raised holdings in exchange-traded products.

They said pick-up in demand in the spot market driven by wedding season further supported the upswing, they said. \

Meanwhile, gold advanced 0.2 per cent to USD 1,751.80 an ounce in Singapore.

Gold prices on Monday surged by R100 to all-time high of R32,950 per 10 gram on sustained demand from stockists and retailers to meet the rising requirements during the ongoing wedding season.

The previous record of gold price was R32,900, set on September 14. Silver also rose by R200 to Rs 63,200/kg on increased offtake by industrial units.

Silver ready strengthened by R200 to R63,200 per kg and weekly-based delivery by R340 to R63,860 per kg, respectively. Silver coins continued to be asked around previous level of R81,000 for buying and R82,000 for selling of 100 pieces.

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