Tracking a firm trend overseas, gold prices advanced by 0.20 per cent to Rs 31,245 per 10 grams in futures trading as speculators expanded their bets.
At the Multi Commodity Exchange, gold for delivery in June month rose by Rs 62, or 0.20 per cent to Rs 31,245 per 10 grams in business turnover of 251 lots.
On similar lines, the yellow metal for delivery in far-month August contracts traded higher to Rs 31,520 per 10 grams in 15 lots.
Analysts said participants widened their positions in line with a firming trend overseas as the dollar extended losses after minutes of the latest Federal Reserve meeting hinted at a dovish approach to interest rate hikes in the US.
Globally, gold rose by 0.14 per cent to USD 1,294.80 an ounce in Singapore.
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