Gold futures rise on spot demand

Gold prices on Thursday rose Rs40 to Rs71,090 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for June delivery traded higher Rs40 or 0.06 per cent at Rs71,090 per 10 grams in a business turnover of 19,372 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures remained stable at $2,338.30 per ounce in New York.