Gold futures gain Rs 14 per 10 gram

Gold prices on Wednesday increased by Rs 14 to Rs 51,851 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for October delivery traded higher by Rs 14 or 0.03 per cent at Rs 51,851 per 10 gram in a business turnover of 15,319 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.05 per cent lower at USD 1,788.80 per ounce in New York.