Gold Futures Rise on Firm Spot Demand and Speculator Activity

Gold prices rose on the Multi Commodity Exchange as speculators created fresh positions due to firm spot demand. The October delivery contracts for gold traded higher by Rs 654, or 0.44 per cent, at Rs 1,49,147 per 10 grams in a business turnover of 1,953 lots.

Fresh positions built up by participants led to a rise in precious metal prices, analysts said. Globally, gold futures rose 0.18 per cent to $4,254.38 per ounce in New York.