Gold price gains Rs 129 to Rs 42,085 per 10 gm

Gold prices on Tuesday rose by Rs 129 to Rs 42,085 per 10 gram in futures trade as speculators were indulged in creating fresh positions amid a firm global trend.

On the Multi Commodity Exchange, gold contracts for April traded higher by Rs 129, or 0.31 per cent, to Rs 42,085 per 10 gram in a business turnover of 1,558 lots.

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The yellow metal for June delivery edged up by Rs 107, or 0.25 per cent, to Rs 42,300 per 10 gram in a business turnover of 70 lots.

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

Globally, gold prices rose 0.30 per cent to USD 1,599.60 per ounce in New York.