Gold futures rise on spot demand

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Gold prices rose by Rs 52 to Rs 29,980 per 10 grams in futures trade on Tuesday as speculators created fresh positions on rising demand in spot markets.

At the Multi Commodity Exchange, gold for delivery in October rose by Rs 52, or 0.17 per cent, to Rs 29,980 per 10 grams, with a business turnover of 2,145 lots.

Similarly, the metal for delivery in December moved up by Rs 49, or 0.16 per cent, to Rs 30,321 per 10 grams in 34 lots.

Marketmen said fresh buying by speculators on rising festive season demand mainly led to a rise in gold futures.