Gold futures rise Rs 385 to Rs 72,903 per 10 gm

New Delhi, Jun 6 (PTI) Gold price on Thursday rose Rs 385 to Rs 72,903 per 10 gram 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 Rs 385 or 0.53 per cent at Rs 72,903 per 10 grams in a business turnover of 16,840 lots.

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

Globally, gold futures grew 0.45 per cent to USD 2,386.30 per ounce in New York.

Praveen Singh, Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas said, “Spot gold closed with a gain of 1.28% at $1955 as the US yields sank despite robust US ISM services data.”