Gold futures rise on firm demand

Gold prices on Friday marginally rose Rs48 to Rs71,620 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 marginally higher Rs48, or 0.05 per cent, at Rs71,620 per 10 grams in a business turnover of 14,206 lots.

Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.11 per cent to $2,339.20 per ounce in New York.