NEW DELHI: Gold prices on Tuesday jumped Rs 208 to Rs 63,528 per 10 grams in futures trade as speculators created fresh positions on firm spot demand.
On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 208, or 0. 33 per cent, at Rs 63,528 per 10 grams in a business turnover of 15,345 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures went up by 0.54% to USD 2,083 per ounce in New York. The yellow metal is closing in on the alltime high of $2,135 due to expectations that the US Federal Reserve will soon start cutting interest rates, which will drive down the value of the US dollar.