Gold Futures Rise on Spot Demand
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Gold prices increased in futures trade, driven by firm spot demand and increased speculation. August delivery contracts rose to Rs 97,870 per 10 grams.
Photograph: Heinz-Peter Bader/Reuters/Reuters
New Delhi, Jul 18 (PTI) Gold prices on Friday increased Rs 397 to Rs 97,870 per 10 grams in futures trade, as speculators created fresh positions on a firm spot demand.
On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 397 or 0.41 per cent at Rs 97,870 per 10 grams in a business turnover of 10,846 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures rose 0.25 per cent to USD 3,353.70 per ounce in New York.
On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 397 or 0.41 per cent at Rs 97,870 per 10 grams in a business turnover of 10,846 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures rose 0.25 per cent to USD 3,353.70 per ounce in New York.
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