Gold futures up on spot demand; gold futures rise due to spot demand

Gold futures up on spot demand; gold futures rise due to spot demand

New Delhi, May 26 (PTI): On Thursday, speculators created fresh positions on the back of strong spot demand as gold prices rose by Rs 229 to Rs 49,096 per 10 grams in the local futures market.

At the Multi Commodity Exchange, gold for delivery in the month of June rose by Rs 229, or 0.47 per cent to Rs 49,096 per 10 grams. It traded for 5,531 lots.

Market analysts said that fresh futures buying by traders led to rise in gold futures.

Globally, gold rose 0.55 percent to $ 1,911 an ounce in New York.

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