Gold rises in futures trade on higher global trend

Buoyed by higher global trend, gold futures prices rose by Rs 45 to Rs 20,904 per 10 grams in futures trade today on fresh buying by speculators.

At the Multi Commodity Exchange counter, gold for delivery in August rose by Rs 45, or 0.22 per cent, to Rs 20,904 per 10 grams, with an open interest of a just one lot.

Similarly, the yellow metal for delivery in February gained Rs 30, or 0.15 per cent, to Rs 20,322 per 10 grams with a business turnover of 12 lots.

Market analysts said apart from firming trend in overseas market, fresh buying by speculators on pick-up in demand in the spot market led to rise in gold prices at futures trade.

Meanwhile, gold climbed 0.2 per cent, to $1,364.93 an ounce in Seoul.