Gold futures gain on spot demand

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 284, or 0.58 per cent, at Rs 49,223 per 10 gram in a business turnover of 11,601 lots.

New Delhi: Gold prices rose by Rs 284 to Rs 49,223 per 10 gram in futures trade on Tuesday as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 284, or 0.58 per cent, at Rs 49,223 per 10 gram in a business turnover of 11,601 lots.

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

Globally, gold prices traded 0.68 per cent higher at USD 1,844.50 per ounce in New York.