Gold futures gain on spot demand

Gold prices rose Rs 100 to Rs 48,617 per 10 gram in the futures trade on Friday as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for the December delivery traded higher by Rs 100, or 0.21 per cent, at Rs 48,617 per 10 gram in a business turnover of 1,895 lots.

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

Globally, gold prices traded 0.19 per cent higher at USD 1,814.70 per ounce in New York.