Globally, gold traded 0.16 per cent higher at USD 1,248.20 an ounce in New York.
Chana prices dipped 1.41 per cent to Rs 4,488 per quintal in futures trade.
Jeera futures (Jan) is expected to plunge further towards Rs 18250-18100.
Gold can take support near Rs 31,485 levels and can face resistance near Rs 31,800 levels.
Expert says the policy could call for establishment of a bullion bank and a spot gold exchange