Gold prices were up by Rs 50 to Rs 31,220 per 10 grams at the futures trade today as speculators raised their bets even as the metal weakened overseas.
At the Multi Commodity Exchange, 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 in precious metals overseas, capped the gains.
Meanwhile, gold was trading down by 0.08 per cent at $1,321.60 an ounce in Singapore.