New Delhi, Nov 26 (PTI) Gold prices rose Rs 227 to Rs 48,740 per 10 gram in futures trade on Thursday as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 227, or 0.47 per cent, at Rs 48,740 per 10 gram in a business turnover of 3,003 lots.

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

Globally, gold prices traded 0.49 per cent higher at USD 1,820 per ounce in New York. PTI

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)