Gold futures gain on spot demand

Gold prices on Thursday rose Rs 57 to Rs 47,125 per 10 gram in the futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for the October delivery traded higher by Rs 57, or 0.12 per cent, at Rs 47,125 per 10 gram in a business turnover of 11,171 lots.

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

Gold prices traded 0.07 percent higher at USD 1,817.2 per ounce in New York.