Gold futures rise on spot demand

New Delhi: Gold price on Friday rose Rs221 to Rs71,435 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 Rs221 or 0.31 per cent at Rs71,435 per 10 grams in a business turnover of 19,552 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures went up by 0.61 per cent at $2,357.60 per ounce in New York.