Gold prices rose by Rs 71 to Rs 29,718 per 10 gram in futures trade today as speculators engaged in raising their bets even as the metal weakened overseas.
At the Multi Commodity Exchange, gold for delivery in far-month February next year was trading higher by Rs 71 or 0.24 per cent at Rs 29,718 per 10 gram in a business turnover of 1 lot.
The yellow metal for delivery in December too gained Rs 67 or 0.23 per cent to Rs 29,665 per 10 gram in 366 lots.
Market analysts attributed the rise in gold prices in futures trade to raising of bets by participants but a weak trend overseas capped the gains.
Meanwhile, gold was trading a shade lower by 0.05 per cent at $1,284.20 an ounce in Singapore.