Gold Futures Rise on Spot Demand
Gold futures prices rose on Monday due to strong spot demand, driven by speculators building fresh positions. The rise was also seen globally.
Photograph: Heinz-Peter Bader/Reuters/Reuters
New Delhi, Mar 3 (PTI) Gold prices on Monday rose by Rs 478 to Rs 84,697 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.
On the Multi Commodity Exchange, gold contracts for April delivery traded higher by Rs 478 or 0.57 per cent at Rs 84,697 per 10 grams in a business turnover of 13,686 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures increased 0.20 per cent to USD 2,863.46 per ounce in New York.
On the Multi Commodity Exchange, gold contracts for April delivery traded higher by Rs 478 or 0.57 per cent at Rs 84,697 per 10 grams in a business turnover of 13,686 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures increased 0.20 per cent to USD 2,863.46 per ounce in New York.
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