Gold Futures Rise on Spot Demand
Gold prices surged in India and globally, driven by strong spot demand and increased speculation. Gold futures on the Multi Commodity Exchange (MCX) rose Rs 61 to Rs 77,592 per 10 grams, while global prices climbed to USD 2,651.27 per ounce.
Photograph: Heinz-Peter Bader/Reuters/Reuters
New Delhi, Jan 8 (PTI) Gold prices on Wednesday increased Rs 61 to Rs 77,592 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 61 or 0.08 per cent at Rs 77,592 per 10 grams in a business turnover of 11,587 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures rose 0.10 per cent to USD 2,651.27 per ounce in New York.
On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 61 or 0.08 per cent at Rs 77,592 per 10 grams in a business turnover of 11,587 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures rose 0.10 per cent to USD 2,651.27 per ounce in New York.
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