Gold prices rose by 0.33 per cent to Rs 31,4848 per 10 gram in futures trade on Thursday as speculators raised their bets even as the precious metals weakened overseas.
At the Multi Commodity Exchange, gold for delivery in December rose by Rs 103, or 0.33 per cent, to Rs 31,484 per 10 gram in a business turnover of 280 lots.
Market analysts attributed the rise in gold prices in futures trade to raising of bets by participants but a weak trend overseas, squeezed the gains.
Globally, gold was trading 0.15 per cent lower at USD 1,193.60 an ounce in Singapore.