Gold futures gain on spot demand

Gold futures gain on spot demand

Gold prices traded 0.12 per cent higher at USD 1,895.60 per ounce in New York

Representative image. Credit: iStock photo.

Gold prices on Thursday rose by Rs 5 to Rs 50,140 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 5, or 0.01 per cent, at Rs 50,140 per 10 gram in a business turnover of 10,077 lots.

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

Gold prices traded 0.12 per cent higher at USD 1,895.60 per ounce in New York.