Gold futures rise on spot demand

New Delhi, Jan 13 (PTI) Gold prices on Monday increased Rs 254 to Rs 78,677 per 10 grams in futures trade as speculators created positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 254 or 0.32 per cent at Rs 78,677 per 10 grams in a business turnover of 10,967 lots.

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

Globally, gold futures declined 0.08 per cent to USD 2,687.70 per ounce in New York.