Gold futures gain on spot demand

January 04, 2021 05:21 pm | Updated 05:27 pm IST - New Delhi

Representational image.

Representational image.

Gold prices rose ₹871 to ₹51,115 per 10 gram in the futures trade on January 4 as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for the February delivery traded higher by ₹871, or 1.73%, at ₹51,115 per 10 gram in a business turnover of 10,514 lots.

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

Globally, gold prices traded 2.29% higher at $1,938.50 per ounce in New York.

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