Gold futures increase on spot demand

Gold prices rose Rs 1,044 to Rs 1,53,880 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for April delivery traded higher Rs 1,044 or 0.68 per cent at Rs 1,53,880 per 10 grams in a business turnover of 1,538 lots.

Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures rose 0.81 per cent to $4,962 per ounce in New York.