Gold futures gain Rs 61 to Rs 55,800/10 gms

Gold price on Friday increased by Rs 61 to Rs 55,800 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for April delivery traded higher by Rs 61 or 0.11 per cent at Rs 55,800 per 10 grams in a business turnover of 10,841 lots.

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

Globally, gold was trading 0.47 per cent higher at USD 1,849.10 per ounce in New York.