Gold prices on May 8 rose 0.16 percent to Rs 31,779 per 10 gram in futures trade as participants created fresh positions tracking firm trend overseas and at domestic markets.
On the Multi Commodity Exchange, gold for delivery in June contracts rose by Rs 50, or 0.16 percent, to Rs 31,779 per 10 gram in a business turnover of 9,741 lots.
Gold prices overseas clocked a week-high as investors resorted to the safe-haven assets on renewed worries over US-China trade dispute and its potential impact on the global economy, say reports.
In the domestic markets, too, the demand for the yellow-metal gathered steam as a safe bet.
Also, the delivery in August contracts gained Rs 39, or 0.12 percent, to Rs 31,929 per 10 gram in business volume of 3,317 lots.
The gold prices rose USD 3.10, or 0.24 percent, to USD 1,288.70 an ounce in New York.
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