Gold futures gain Rs 12 to Rs 58,985/10 gm

Gold price increased by Rs 12 to Rs 58,985 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.

New Delhi: Gold price on Thursday increased by Rs 12 to Rs 58,985 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold contracts for October delivery traded higher by Rs 12 or 0.02 per cent at Rs 58,985 per 10 gram in a business turnover of 13,828 lots.

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

Globally, gold was trading 0.11 per cent higher at USD 1,952.70 per ounce in New York.