Gold futures rise on firm spot demand

Gold prices on Thursday jumped Rs 173 to Rs 62,169 per 10 grams in futures trade as speculators created fresh positions on firm spot demand. On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 173, or 0.28 per cent, at Rs 62,169 per 10 grams in a business turnover of 9,777 lots.

Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures went up by 0.36 per cent to $2,035.10 per ounce in New York.