Gold future rise on hopes of rise in demand

Gold future rose on MCX as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market, amid hopes that recent declines in prices of the bullion may spur demand. The contract for August delivery was trading at Rs 26165.00, up by 0.10% or Rs 26.00 from its previous closing of Rs 26139.00. The open interest of the contract stood at 8757.00 lots. The contract for October delivery was trading at Rs 26250.00, up by 0.16% or Rs 43.00 from its previous closing of Rs 26207.00. The open interest of the contract stood at 1006.00 lots on MCX.