Gold Futures Rise On Spot Demand

Gold prices on Thursday increased Rs306 to Rs77,199 per 10 grams in futures trade as speculators created positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs306 or 0.4 per cent at Rs77,199 per 10 grams in a business turnover of 12,181 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures rose 0.52 per cent to $2,638.04 per ounce in New York.