New Delhi, February 27 Gold prices rose by Rs 890 to Rs 1,60,599 per 10 grams in futures trading on Friday, as speculators created fresh positions due to strong spot demand.
On the Multi Commodity Exchange, gold contracts for April delivery rose by Rs 890, or 0.56 percent, to Rs 1,60,599 per 10 grams in a business turnover of 7,735 lots.
Analysts said that the rise in gold prices was due to fresh positions created by participants.
Globally, gold futures rose by 0.26 percent to USD 5,199.66 per ounce in New York.
"Gold prices remained largely range-bound on Friday, with upside limited by a stronger US dollar and mixed global cues, while safe-haven demand amid geopolitical uncertainty continued to underpin sentiment," said Gaurav Garg, Research Analyst at Lemonn Markets Desk.