Gold prices were up by Rs 193 at Rs 31,481 per 10 grams at the futures trade today as speculators created positions amid positive cues from the global market.
At the Multi Commodity Exchange, gold for delivery in far-month October shot up by Rs 193 or 0.62 per cent to Rs 31,481 per 10 grams in a business turnover of 263 lots.
The metal for delivery in August was trading higher by Rs 184 or 0.59 per cent at Rs 31,170 per 10 grams in a turnover of 1,129 lots.
Analysts said a firm trend overseas after the US Federal Reserve indicated it would take a slow, measured approach to any interest rate hikes amid weak dollar raising the demand for precious metal, influenced gold futures here.
Meanwhile, gold rose 1.52 per cent to $1,39.70 an ounce in New York yesterday.