Gold futures surge on positive demand

Gold prices on Friday rose by Rs 44 to Rs 46,205 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold contracts for June traded higher by Rs 44, or 0.1 per cent, to Rs 46,205 per 10 gram in a business turnover of 13,615 lots.

The yellow metal for August delivery edged up by Rs 63, or 0.14 per cent, to Rs 46,442 per 10 gram in a business turnover of 7,105 lots.

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

Globally, gold prices traded higher by 0.24 per cent at USD 1,729.90 per ounce in New York. PTI