Gold futures gain on spot demand

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New Delhi, Jan 7 (PTI) Gold prices rose Rs 361 to Rs 50,870 per 10 gram in futures trade on Thursday as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 361, or 0.71 per cent, at Rs 50,870 per 10 gram in a business turnover of 8,999 lots.

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

Globally, gold prices traded 0.58 per cent higher at USD 1,919.60 per ounce in New York. PTI SHW RUJ RUJ