Gold futures gain Rs 113 to Rs 55,414/10 gms

Gold prices on Friday increased by Rs 113 to Rs 55,414 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 113 or 0.2 per cent at Rs 55,414 per 10 grams in a business turnover of 9,435 lots.

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

Globally, gold was trading 0.15 per cent higher at USD 1,837.40 per ounce in New York.