Gold futures gain on spot demand

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New Delhi, Jan 12 (PTI) Gold prices rose by Rs 109 to Rs 49,450 per 10 gram in futures trade on Tuesday as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 109, or 0.22 per cent, at Rs 49,450 per 10 gram in a business turnover of 8,742 lots.

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

Globally, gold prices traded 0.41 per cent higher at USD 1,858.40 per ounce in New York. PTI SHW RUJ RUJ