Gold prices rose Rs 48 to Rs 31,501 per 10 grams in futures trade today as speculators raised their bets amid a firming trend overseas.
At the Multi Commodity Exchange, gold for delivery in December rose by Rs 48 or 0.15 per cent to Rs 31,501 per 10 grams in a business turnover of three lots.
Similarly, the yellow metal for delivery in October was trading higher by Rs 43 or 0.14 per cent to Rs 31,348 per 10 grams in 214 lots.
Analysts said a firming trend in the global markets where the precious metal advanced to trade at near three-week high as weaker US economic data damps prospects for an interest rate increase this month by Federal Reserve boosted demand for the safe-haven, influenced gold at futures trade here.
Globally, gold surged 0.13 per cent to USD 1,346.80 an ounce in Singapore.