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.
Meanwhile, Lead prices eased by 1.16 per cent in futures market Thursday as speculators cut positions amid subdued demand at the spot markets.
At the Multi Commodity Exchange, lead for delivery in current month shed Rs 1.65, or 1.16 per cent, to Rs 140.65 per kg in a business turnover of 378 lots.
Analysts attributed weakness in lead prices at futures to cutting down of bets by participants due to tepid demand from battery makers at the spot market.
Amid weak trends overseas and muted demand at domestic spot markets, copper futures fell 1.22 per cent to Rs 453.10 per kg Thursday as speculators trimmed their positions.
At Multi Commodity Exchange, copper for delivery in November declined by Rs 5.60, or 1.22 per cent, to Rs 453.10 per kg in a business turnover of 1,160 lots.
On Wednesday, Gold prices rose 0.27 per cent in futures trade as speculators created fresh positions, taking positive cues from global markets. At the Multi Commodity Exchange, gold for delivery in December was up by Rs 86, or 0.27 per cent, to Rs 31,369 per 10 grams in a trade volume of 24 lots.
The metal for delivery in November moved up Rs 64, or 0.21 per cent, to Rs 31,225 per 10 grams in a turnover of 303 lots.
Market analysts said raising of bets by participants, tracking a firm trend overseas, influenced gold at futures trade here.