Gold futures gain on fresh bets

Gold prices on Wednesday marginally increased by Rs 8 to Rs 51,592 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 8 or 0.02 per cent at Rs 51,592 per 10 gram in a business turnover of 14,016 lots.

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

Globally, gold was trading 0.20 per cent lower at USD 1,900.30 per ounce in New York.