New Delhi, January 3: Gold price on Tuesday increased by Rs 535 to Rs 55,713 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 535 or 0.97 per cent at Rs 55,713 per 10 grams in a business turnover of 13,942 lots. Gold: Policies to Shape a New Look Economy.

Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 1.42 per cent higher at USD 1,852.20 per ounce in New York.