New Delhi

Gold prices on Tuesday rose by Rs 1,501 to Rs 1.54 lakh per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, the yellow metal contracts for October delivery traded higher by Rs 1,501, or 0.98 per cent, at Rs 1,54,600 per 10 grams in a business turnover of 1,332 lots.

Fresh positions built up by participants led to a rise in precious metal prices, analysts said.

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Globally, gold futures increased 0.35 per cent to USD 4,406.15 per ounce in New York.