Gold prices on Tuesday rose by Rs 86 to Rs 48,330 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 86, or 0.18 per cent, at Rs 48,330 per 10 gram in a business turnover of 13,630 lots.

Fresh positions built up by participants mainly led to the rise in gold prices, analysts said.

Globally, gold prices traded 0.13 per cent higher at USD 1,783.50 per ounce in New York.