New Delhi: Gold prices on Thursday rose by Rs 42 to Rs 51,638 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 42 or 0.08 per cent to Rs 51,638 per 10 grams in a business turnover of 17,898 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said.

Globally, gold was trading 0.24 per cent higher at USD 1,927.70 per ounce in New York.