Gold futures gain on spot demand

On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 82, or 0.17 per cent, at Rs 49,525 per 10 gram in a business turnover of 11,623 lots.Fresh positions built up by participants led to the rise in gold prices, analysts said.

Gold prices rose by Rs 82 to Rs 49,525 per 10 gram in futures trade on Wednesday as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 82, or 0.17 per cent, at Rs 49,525 per 10 gram in a business turnover of 11,623 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold prices traded 0.15 per cent higher at USD 1,858 per ounce in New York.