Gold futures rise Rs 129 to Rs 58,419 per 10 gm

Gold price on Friday increased by Rs 129 to Rs 58,419 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold contracts for October delivery traded higher by Rs 129 or 0.22 per cent at Rs 58,419 per 10 grams in a business turnover of 13,653 lots.

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

Globally, gold was trading 0.41 per cent higher at $1,923 per ounce in New York.