Gold futures gain on fresh bets

Gold prices on Friday increased by Rs 57 to Rs 51,326 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 57 or 0.11 per cent at Rs 51,326 per 10 grams in a business turnover of 14,427 lots.

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

Globally, gold was trading 0.13 per cent lower at USD 1,869 per ounce in New York.