Gold Futures Rise On Fresh Positions

Gold prices on Friday increased Rs389 to Rs77,496 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. During the day, gold futures hit an all-time high of Rs77,667 per 10 grams.

On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs389 or 0.5 per cent at Rs77,496 per 10 grams in a business turnover of 14,973 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased by 0.52 per cent to $2,706.81 per ounce in New York.