Gold futures rise on fresh bets

Gold prices on Wednesday rose Rs363 to Rs68,873 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for August delivery traded higher Rs363 or 0.53 per cent at Rs68,873 per 10 grams in a business turnover of 10,851 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.41 per cent to $2,465.20 per ounce in New York.