Gold prices on Monday rose by Rs 479 to Rs 47,860 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.
On the Multi Commodity Exchange, gold contracts for June traded higher by Rs 479, or 1.01 per cent, to Rs 47,860 per 10 gram in a business turnover of 12,881 lots.
The yellow metal for August delivery edged up by Rs 469, or 0.99 per cent, to Rs 48,038 per 10 gram in a business turnover of 9,121 lots.
Fresh positions built up by participants mainly led to the rise in gold prices, analysts said.
Globally, gold prices traded higher by 0.95 per cent at USD 1,773 per ounce in New York.