Gold prices moved up by Rs 57 to Rs 29,250 per 10 gram at the futures trade as speculators raised their bets, taking positive cues from global markets.

At the Multi Commodity Exchange, gold for delivery in June was up by Rs 57 or 0.2 per cent at Rs 29,250 per 10 gram in a business turnover of 279 lots.

Market analysts said the rise in gold prices at the futures trade was largely in line with a firm trend overseas as soaring geoplitical tensions boosted the metal’s appeal as a haven asset.

Globally, gold climbed as much as 0.05 per cent to trade at a five-month high of $1,274.60 an ounce in Singapore.