Gold futures gain Rs 223 to Rs 58,229/10 grams

Gold prices on Friday increased by Rs 223 to Rs 58,229 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 223 or 0.38 per cent at Rs 58,229 per 10 grams in a business turnover of 8,570 lots.

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

Globally, gold was trading 0.62 per cent higher at USD 1,935 per ounce in New York.