Gold futures gain Rs 220 to Rs 54,070/10 gm

Gold prices on Monday increased by Rs 220 to Rs 54,070 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 220 or 0.41 per cent at Rs 54,070 per 10 gram in a business turnover of 16,562 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said.

Globally, gold was trading 0.14 per cent higher at $1,812.20 per ounce in New York.