According to the latest figures released, the gold futures have risen by 0.15 per cent to Rs. 31,226 per 10 grams on Monday.

The rise of 0.15 per cent was recorded after the speculators created fresh positions. Gold for delivery in the month of April increased Rs. 48, or 0.15 per cent to Rs 31,226 per 10 grams at the Multi Commodity Exchange. The total turnover was recorded at 275 lots in the market.

Gold for February delivery increased Rs. 39, or 0.13 per cent to Rs. 30,736 per 10 grams and the volume was recorded at 3,641 lots. . Experts have said that the uncertainty over the fiscal cliff situation is likely to affect gold prices down in the global markets in the coming days.

US lawmakers are struggling to come to an agreement to avoid automatic tax increases and spending cuts are imposed on the US economy. The fiscal cliff situation has pushed a lot of investors to look for safer heavens like Gold and this has helped increase the price in the global markets.

Dealers believe that gold prices in India are expected to follow international prices and the currency fluctuations.