Fresh positions led to rise

Gold price on Friday rose Rs 41 to Rs 58,863 per 10 grams in futures trade as speculators created fresh positions on firm spot demand. On the Multi Commodity Exchange, gold contracts for October delivery traded higher by Rs 41 or 0.07 per cent at Rs 58,863 per 10 grams in a business turnover of 7,049 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.29 per cent higher at $1,945.20 per ounce in New York.