Gold futures gain on spot demand

New Delhi: Gold prices on Monday rose by Rs 308 to Rs 52,475 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 308, or 0.59 per cent, at Rs 52,475 per 10 gram in a business turnover of 12,577 lots.

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

Gold prices traded 0.43 per cent higher at USD 1,960 per ounce in New York.