Gold futures rise on spot demand

Gold price on Friday rose Rs4 to Rs73,135 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for August delivery traded higher Rs4 or 0.01 per cent at Rs73,135 per 10 grams in a business turnover of 16,751 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said.

Globally, gold futures grew 0.24 per cent to $2,394.10 per ounce in New York.