Gold futures rise on spot demand

Gold prices on Monday jumped Rs170 to Rs62,048 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for April delivery traded higher Rs170, or 0.27 per cent, at Rs62,048 per 10 grams in a business turnover of 13,340 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.38 per cent to $2,031.70 per ounce in New York.