New Delhi: The price of gold in futures trading saw a gain of Rs 48, reaching Rs 59,441 per 10 grams. Bullion future market was driven by speculators who initiated new positions due to strong demand in the spot market.

At the Multi Commodity Exchange, gold contracts set for delivery in October recorded a Rs 48 increase, equivalent to 0.08 percent, reaching Rs 59,441 per 10 grams. This uptick occurred amidst a business turnover of 11,996 lots. Analysts attribute this rise in gold prices to the accumulation of fresh positions by market participants.

On the global stage, gold was trading at USD 1,962.90 per ounce in New York, showing a 0.21 percent decrease.

Gold price on Tuesday rose Rs 48 to Rs 59,441 per 10 grams 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 48 or 0.08 per cent at Rs 59,441 per 10 grams in a business turnover of 11,996 lots.

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

Globally, gold was trading 0.21 per cent lower at USD 1,962.90 per ounce in New York.

Gold Price (10 grams) on 5 September in metro cities

Bangalore- Rs 60220 (24K purity), Rs 55200 (22K purity)

Chennai- Rs 60490 (24K purity), Rs 55450 (22K purity)

Delhi- Rs 60370 (24K purity), Rs 55350 (22K purity)

Kolkata- Rs 60220 (24K purity), Rs 55200 (22K purity)

Mumbai- Rs 60220 (24K purity), Rs 55200 (22K purity)

Pune- Rs 60220 (24K purity), Rs 55200 (22K purity)

On Monday, Gold prices rose by Rs 100 to Rs 60,450 per 10 gram in the national capital. The yellow metal had settled at Rs 60,350 per 10 gram in the previous trade. However, silver remained flat at Rs 77,000 per kg.