Gold futures rise on spot demand

New Delhi: Gold prices rose by Rs 1,283 to Rs 1.63 lakh per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, the yellow metal contracts for October delivery traded higher by 0.79 per cent in a business turnover of 3,424 lots.

Fresh positions built up by participants led to a rise in precious metal prices, analysts said.

Globally, gold futures increased 0.99 per cent to $4,648.78 per ounce in New York.