Gold futures gain Rs 80 to Rs 54,380

Gold price on Monday increased by Rs 80 to Rs 54,380 per 10 grams in 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 80 or 0.15 per cent at Rs 54,380 per 10 grams in a business turnover of 14,944 lots.

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

Globally, gold was trading 0.16 per cent higher at USD 1,803.10 per ounce in New York.