MCX gold futures for October 2012 contract, was trading at Rs 31,775 per 10 gram, higher by 0.91%. The metal opened at Rs 31,490.

Gold futures for April 2013 contract, was seen trading higher by 0.80% at Rs 32,874 per 10 grams on MCX at 12.30 pm IST.

Gold sentiment was boosted as speculators enlarged their positions tracking firm global trends. Also, sustained buying from stockist helped in the movement of gold.

MCX silver futures surged by Rs 1,410 per kg, and was trading at Rs 63,292 per kg.

Gold investors will eye the outcome of a European Central Bank's policy meet which is to be held later today. Any disappointment from the ECB in terms of stimulus measures could lead to sharp fall in the metal across the globe. International gold was seen trading around US$1,703 an ounce.

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