Gold futures up on fresh buying

Gold prices rose by Rs 56 to Rs 19,955 per 10 grams in futures trade today as speculators indulged in created fresh position on pick-up in demand in the spot market.

At the Multi Commodity Exchange counter, gold for delivery in February rose by Rs 56, or 0.28 per cent, to Rs 19,955 per 10 grams, with a business turnover of 13 lots.

Similarly, the metal for delivery in April gained Rs 44, or 0.22 per cent, to Rs 20,211 per 10 grams, with an open interest of just one lot.    

Market analysts said fresh buying by speculators on a rise in demand in the spot market, helped gold prices to trade higher at futures trade.