Gold prices were up by Rs 50 to Rs 31,220 per 10 grams in futures trade today as speculators raised their bets even as metal weakened overseas.
In futures trading at the Multi Commodity Exchange, gold for delivery in far-month was trading higher by Rs 54, or 0.17 per cent, to Rs 31,220 per 10 grams, in a business turnover of 46 lots.
The yellow metal for delivery in October gained Rs 50, or 0.16 per cent, to Rs 31,088 per 10 grams in 332 lots.
Market analysts attributed the rise in gold prices at futures trade to widening of positions by speculators but a weak trend the precious metals overseas, capped the gains.
Meanwhile, gold was trading lower 0.08 per cent at USD 1,321.60 an ounce in Singapore.