Gold futures rise on spot demand

Gold price on Wednesday rose Rs470 to Rs72,767 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 Rs470 or 0.65 per cent at Rs72,767 per 10 grams in a business turnover of 12,040 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures went up 0.81 per cent at $2,379.10 per ounce in New York.