Gold futures rise on spot demand

Gold prices on Friday rose Rs250 to Rs62,019 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs250, or 0.4 per cent, at Rs62,019 per 10 grams in a business turnover of 6,784 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased by 0.44 per cent to $2,030.50 per ounce in New York.