Gold futures up on spot demand

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Gold prices rose by Rs 50 to Rs 32,730 per 10 gram in futures trade on Thursday due to rise in domestic demand, though a weak trend overseas capped the gains.

On the Multi Commodity Exchange, gold to be delivered in August contracts rose by Rs 50, or 0.15 per cent, to Rs 32,730 per 10 gram in a business turnover of 16,381 lots.

Analysts said raising of bets by participants influenced gold prices at futures trade but a weak trend overseas capped the gains.

Globally, spot gold fell 0.22 per cent to USD 1,336.50 an ounce in New York.