At the Multi Commodity Exchange, gold for delivery in far-month December contracts was quoting higher by Rs 186, or 0.59 per cent, at Rs 31,751 per 10 grams in a business turnover of 16 lot.
Similarly, the metal for delivery in October traded higher by Rs 184, or 0.59 per cent to Rs 31,457 per 10 grams, in 467 lots.
Analysts attributed the rise in gold prices to a firming trend overseas where it rebounded from the lowest in a week as the dollar weakened, boosting demand for precious metals as a store of value.
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