Gold futures gain on spot demand

Gold prices on Wednesday rose Rs 33 to Rs 47,959 per 10 gram in the futures trade as speculators created fresh positions on a firm spot demand. Fresh positions built up by participants led to the rise in gold prices, analysts said. Gold prices traded flat at USD 1,812.4 per ounce in New York.

Gold prices on Wednesday rose Rs 33 to Rs 47,959 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 February delivery traded higher by Rs 33, or 0.07 per cent, at Rs 47,959 per 10 gram in a business turnover of 5,458 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Gold prices traded flat at USD 1,812.4 per ounce in New York.