Gold prices inch up by 0.39 per cent on festive season demand

Meanwhile, gold was trading 0.01 per cent higher at USD 1,232.70 an ounce in Singapore.

Gold futures were trading higher at Rs 31,984 per 10 grams on Friday as traders raised bets amid positive cues from global markets.

At the Multi Commodity Exchange, gold to be delivered in December was up by Rs 123, or 0.39 per cent, at Rs 31,984 per 10 grams in a business turnover of 438 lots.

Analysts attributed the rise in gold prices in the futures market to a firming trend overseas and festive season demand at the domestic markets, where the precious metal traded at over 6-year high on Thursday.

Meanwhile, gold was trading 0.01 per cent higher at USD 1,232.70 an ounce in Singapore.