Gold price on Friday rose Rs 221 to Rs 71,435 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 Rs 221 or 0.31 per cent at Rs 71,435 per 10 grams in a business turnover of 19,552 lots.

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

Globally, gold futures went up by 0.61 per cent at USD 2,357.60 per ounce in New York.