Gold prices increased by Rs 48 to Rs 38,400 per 10 gram in futures trade on Friday as speculators widened their bets on spot demand in tandem with positive trend overseas.
Analysts said the rise in gold prices was mostly on the back of fresh positions built by participants on strong overseas trend.
On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 48, or 0.13 per cent, at Rs 38,400 per 10 gram in 1,964 lots.
Globally, gold price was quoting 0.13 per cent higher at USD 1,506.60 an ounce in New York.
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