Fresh positions built up by participants led to the rise in gold prices, analysts said.
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The yellow metal price rose by Rs 187 to Rs 47,721 per 10 gram on Monday in the futures trade as speculators created fresh positions on a firm spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for the August delivery traded higher by Rs 187, or 0.39 per cent, at Rs 47,721 per 10 gram in a business turnover of 4,900 lots.
Fresh positions built up by participants led to the rise in gold prices, analysts said.
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Gold prices traded 0.36 per cent higher at USD 1,812.40 per ounce in New York.
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