Gold futures rise Rs 88 to Rs 58,975/10 gms

New Delhi, Aug 29 (PTI) Gold price on Tuesday rose Rs 88 to Rs 58,975 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold contracts for October delivery traded higher by Rs 88 or 0.15 per cent at Rs 58,975 per 10 gram in a business turnover of 12,497 lots.

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

Globally, gold was trading 0.15 per cent higher at USD 1,949.80 per ounce in New York.