Gold futures rise on fresh demand

Gold prices on Friday rose Rs241 to Rs71,379 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for August delivery traded higher Rs241 or 0.34 per cent at Rs71,379 per 10 grams in a business turnover of 14,738 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said.

Globally, gold futures grew 0.138 per cent to $2,326.70 per ounce in New York.