Futures rise on fresh positions

Gold price on Friday rose Rs 29 to Rs 56,637 per 10 grams in futures trade as speculators created fresh positions on firm spot demand. On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 29 or 0.05 per cent at Rs 56,637 per 10 grams in a business turnover of 16,194 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.17 per cent higher at $1,835 per ounce in New York.