Gold futures rise on firm demand

Gold prices on Monday rose Rs199 to Rs62,163 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 Rs199, or 0.32 per cent, at Rs62,163 per 10 grams in a business turnover of 2,976 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased by 0.66 per cent to $2,049.50 per ounce in New York.