Gold prices on Friday increased by Rs 344 to Rs 50,531 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand.
On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 344 or 0.69 per cent at Rs 50,531 per 10 gram in a business turnover of 17,835 lots.
Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.67 per cent higher at USD 1,679.80 per ounce in New York.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.