Gold futures up on spot demand

Gold prices rose 0.57 per cent to Rs 35,036 per 10 gram in futures trade Thursday as speculators built up fresh positions in domestic markets.

On the Multi Commodity Exchange, gold for delivery in August contracts traded higher by Rs 197, or 0.57 per cent, to Rs 35,036 per 10 gram in a business turnover of 18,207 lots.

Analysts said the rise in gold prices was mostly on the back of fresh positions built up by the participants. However, a weak trend overseas limited the gains in gold futures.

Globally, the precious metal prices fell 0.84 per cent at USD 1,424.30 an ounce in New York.