Bullion Market Closing: Gold Futures Rise Rs 111 To Rs 37,834 Per 10 Grams

Gold prices on Friday rose Rs 111 to Rs 37,834 per 10 gram in futures trade as speculators widened their bets on spot demand, tracking a firm trend overseas.

On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 111, or 0.29 per cent, at Rs 37,834 per 10 gram in a business turnover of 2,941 lots.

Gold for delivery in February next year also edged up by Rs 106, or 0.28 per cent, to Rs 37,869 per 10 gram in a business turnover of 15,782 lots.

Analysts said the rise in gold prices was mostly on the back of fresh positions built up by participants on positive overseas trend. Globally, gold price was quoting 0.21 per cent up at USD 1,463.80 an ounce in New York.