Gold prices on Wednesday rose by Rs 83 to Rs 38,410 per 10 gram in futures trade as speculators widened their bets, tracking a firm trend overseas.
On the Multi Commodity Exchange, gold contracts for February next year traded higher by Rs 83, or 0.22 per cent, at Rs 38,410 per 10 gram in a business turnover of 18,345 lots.
The yellow metal contracts for April next year traded higher by Rs 83, or 0.22 per cent, at Rs 38,467 per 10 gram in a business turnover of 1,849.
Analysts said the rise in gold prices was mostly on the back of fresh positions built up by participants taking positive cues from global markets.
Globally, gold prices rose 0.30 per cent to USD 1,488 an ounce in New York.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)