Gold prices in the futures market rose by Rs 47 to Rs 48,925 per 10 grams on Friday as speculators increased deals on demand in the spot market amid strong trend globally.
At the Multi Commodity Exchange, gold for the month of August contract rose by Rs 47, ie 0.1%, to Rs 48,925 per 10 grams. It traded for 10,087 lots.
According to analysts, with the increase in spot demand mainly due to increase in participants' deal, gold prices rose. Globally, gold prices in New York rose by 0.27 percent to USD 1,880.86 per oz.