Bullion Market Closing: Gold Futures Rise Rs 107 To Rs 38,746 Per 10 Gram

Gold prices on Thursday rose by Rs 107 to Rs 38,746 per 10 gram in futures trade as speculators increased their bets in tandem with positive overseas trend.

On the Multi Commodity Exchange, gold contracts for February traded higher by Rs 107, or 0.28 per cent, at Rs 38,746 per 10 gram in a business turnover of 2,981 lots.

The yellow metal for April delivery also traded higher by Rs 147, or 0.38 per cent, at Rs 38,835 per 10 gram in a business turnover of 277 lots.

Fresh positions built up by participants taking positive cues from global markets mostly led to the rise in gold prices, analysts said. Globally, gold prices rose 0.25 per cent to USD 1,508.50 per ounce in New York.