Gold futures rise on fresh demand

Gold prices on Tuesday witnessed a rise of Rs32 to Rs71,482 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 higher Rs32, or 0.04 per cent, at Rs71,482 per 10 grams in a business turnover of 14,736 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said.

Globally, gold futures increased 0.23 per cent to $2,334.40 per ounce in New York.