Gold futures gain on spot demand

New Delhi: Gold prices on Friday rose by Rs 268 to Rs 50,550 per 10 gram in futures trade as speculators created fresh positions on firm spot demand. On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 268, or 0.53 per cent, at Rs 50,550 per 10 gram in a business turnover of 13,687 lots.

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

Gold prices traded 0.29 per cent higher at USD 1,873.50 per ounce in New York.