Gold Futures Rise On Spot Demand

Gold prices on Tuesday increased Rs220 to Rs79,798 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 Rs220 or 0.28 per cent at Rs79,798 per 10 grams in a business turnover of 4,397 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures declined 0.05 per cent to $2,739.54 per ounce in New York.