Gold Futures Rise on Spot Demand in India
Gold prices in India surged on Wednesday, driven by strong spot demand and increased speculative activity. Gold futures rose on the Multi Commodity Exchange, tracking a global uptick.
Photograph: Heinz-Peter Bader/Reuters/Reuters
New Delhi, Jan 1 (PTI) Gold prices on Wednesday increased Rs 141 to Rs 76,889 per 10 grams in futures trade as speculators created positions on a firm spot demand.
On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 141 or 0.18 per cent at Rs 76,889 per 10 grams in a business turnover of 12,386 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures rose 0.87 per cent to USD 2,641 per ounce in New York.
On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 141 or 0.18 per cent at Rs 76,889 per 10 grams in a business turnover of 12,386 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures rose 0.87 per cent to USD 2,641 per ounce in New York.
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