Gold futures gain on spot demand, global cues

New Delhi, Jan 23 () Gold prices on Thursday gained by Rs 16 to Rs 39,929 per 10 gram in futures trade as speculators widened their bets in line with positive overseas trend.

On the Multi Commodity Exchange, gold contracts for February traded higher by Rs 16, or 0.04 per cent, to Rs 39,929 per 10 gram in a business turnover of 1,707 lots.

Fresh positions built up by participants taking positive cues from global markets mostly led to rise in gold prices, analysts said.

Globally, gold prices rose 0.02 per cent to USD 1,577 per ounce in New York. VHP SHW SHW