Gold futures increase on spot demand

Gold prices rose by Rs 365 to Rs 1,56,126 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

Gold contracts for April delivery traded higher by 0.23 per cent in a turnover of 1,071 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said.

Globally, gold futures rose 0.48 per cent to $5,001.54 per ounce in New York.Silver prices rose Rs 1,037 to Rs 2,45,305 per kg in futures trade on firm global trends.

Silver contracts for March delivery increased Rs 1,037 or 0.42 per cent to Rs 2,45,305 per kg in a business turnover of 1,589 lots. Fresh positions built up by participants led to a rise in silver prices, analysts said.