Gold prices on Friday increased by Rs 282 to Rs 50,638 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for October delivery traded higher by Rs 282 or 0.56 per cent at Rs 50,638 per 10 gram in a business turnover of 10,471 lots.

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

Globally, gold was trading 1.08 per cent higher at USD 1,738.70 per ounce in New York.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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