Gold futures rise on firm spot demand

Gold prices on Thursday rose Rs130 to Rs61,635 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs130, or 0.21 per cent, at Rs61,635 per 10 grams in a business turnover of 7,034 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased by 0.37 per cent to $2,014.00 per ounce in New York.