Gold futures rise marginally on firm global cues

New Delhi: Gold price rose Rs 18 to Rs 31,474 per 10 grams in futures trade on Monday as speculators raised bets, tracking a firming trend overseas.

Gold for delivery in February, rose by Rs 18, or 0.06 per cent, to Rs 31,474 per 10 grams, in a business turnover of 1,155 lots. Similarly, the metal for delivery in far-month April was trading Rs 6, or 0.02 per cent, higher at Rs 31,650 per 10 grams in 38 lots.

Analysts said, speculators widened bets tracking a firm global trend, helped by a weaker dollar on expectations that the US Federal Reserve might apply brakes on its monetary tightening cycle in 2019, influencing gold prices at futures trade here.

Globally, gold inched up 0.33 per cent to USD 1,289.50 an ounce in New York.