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Gold prices increased by Rs 294 to Rs 87,848 per 10 grams in futures trade on Wednesday as speculators created fresh positions, driven by firm demand in the spot market.
On the Multi Commodity Exchange, gold contracts for April delivery were up by Rs 294 or 0.34% at Rs 87,848 per 10 grams, with a business turnover of 6,803 lots.
Analysts attributed the rise in gold prices to the buildup of fresh positions by market participants amid robust spot demand.
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