Gold futures rise on firm demand

Gold prices on Friday rose Rs269 to Rs70,405 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for October delivery traded higher Rs269 or 0.38 per cent at Rs70,405 per 10 grams in a business turnover of 16,875 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures fell 0.08 per cent to $2,490.30 per ounce in New York.