Gold Futures Rise on Spot Demand: Prices Up Rs 270
Gold futures on the Multi Commodity Exchange (MCX) surged by Rs 270 on Wednesday, driven by strong spot demand and increased speculative positions. Globally, gold prices dipped slightly.
Photograph: Heinz-Peter Bader/Reuters/Reuters
New Delhi, Jan 22 (PTI) Gold prices on Wednesday increased Rs 270 to Rs 79,494 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 270 or 0.34 per cent at Rs 79,494 per 10 grams in a business turnover of 9,188 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures declined 0.24 per cent to USD 2,765.70 per ounce in New York.
On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 270 or 0.34 per cent at Rs 79,494 per 10 grams in a business turnover of 9,188 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures declined 0.24 per cent to USD 2,765.70 per ounce in New York.
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