Gold prices on Thursday rose Rs 56 to Rs 39,123 per 10 gram in futures market as speculators increased their bets even as the metal traded flat overseas.
On the Multi Commodity Exchange, gold contracts for February traded higher by Rs 56, or 0.14 per cent, at Rs 39,123 per 10 gram with a business turnover of 1,697 lots.
The yellow metal for April delivery surged by Rs 186, or 0.48 per cent, at Rs 39,250 per 10 gram in a business turnover of 257 lots.
Fresh positions built up by participants led to the rise in gold prices, analysts said.
Globally, gold prices held flat at 1,522.90 per ounce in New York.