Gold Futures Prices Rise On Spot Demand

Gold prices rose by Rs 73 to Rs 31,394 per 10 grams in futures trade today as speculators created fresh positions on hopes a rise in spot market demand for the coming festival and marriage season.

However, a weak global trend restricted the gains.

At the Multi Commodity Exchange, gold for delivery in December rose by Rs 73, or 0.23 per cent, to Rs 31,394 per 10 grams, with a business turnover of 12,002 lots.

Similarly, the metal for delivery in February traded higher by a same margin to Rs 31,747 per 10 grams in 374 lots.

Marketmen said fresh positions created by speculators on expectations of a rise in demand in the spot market during the coming festival and marriage season mainly led to a rise in gold prices at futures trade.

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