Gold futures rise Rs 155 to Rs 37,875 per 10 gm

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Gold prices on Wednesday rose Rs 155 to Rs 37,875 per 10 gram in futures trade as speculators widened their bets on spot demand, tracking a positive trend overseas.

On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 155, or 0.41 per cent, at Rs 37,875 per 10 gram in a business turnover of 2,759 lots.

Gold for delivery in February next year also edged up by Rs 137, or 0.36 per cent, to Rs 37,860 per 10 gram in 252 lots.

Analysts said the rise in gold prices was mostly on the back of fresh positions built up by participants on strong overseas trend.

Globally, gold price was quoting 0.63 per cent up at USD 1,462.90 an ounce in New York.

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