Gold Futures Surge: Prices Climb Rs 483 to Rs 88,121/10g
Gold futures climbed Rs 483 to Rs 88,121 per 10 grams, driven by strong spot demand. Safe-haven demand and US macroeconomic data contributed to the rise.
New Delhi, Mar 27 (PTI) Gold prices on Thursday climbed by Rs 483 to Rs 88,121 per 10 grams in futures trade, driven by firm spot demand.
Extending the gains for the fourth straight session, gold contracts for April delivery traded higher by Rs 483 or 0.55 per cent to Rs 88,121 per 10 grams in a business turnover of 4,972 lots.
In the overseas markets, gold futures appreciated by USD 22.40 or 0.73 per cent to USD 3,074.70 per ounce in New York.
According to Mehta Equities' VP of Commodities, Rahul Kalantri, demand for safe-haven assets increased amid a downturn in US equities due to trade tariff concerns.
Meanwhile, US macroeconomic data, including durable goods orders unexpectedly rose and lent support to gold prices, Kalantri said.
However, geopolitical risks in the Middle East and economic uncertainty could sustain bullion's upward momentum, he added.
Extending the gains for the fourth straight session, gold contracts for April delivery traded higher by Rs 483 or 0.55 per cent to Rs 88,121 per 10 grams in a business turnover of 4,972 lots.
In the overseas markets, gold futures appreciated by USD 22.40 or 0.73 per cent to USD 3,074.70 per ounce in New York.
According to Mehta Equities' VP of Commodities, Rahul Kalantri, demand for safe-haven assets increased amid a downturn in US equities due to trade tariff concerns.
Meanwhile, US macroeconomic data, including durable goods orders unexpectedly rose and lent support to gold prices, Kalantri said.
However, geopolitical risks in the Middle East and economic uncertainty could sustain bullion's upward momentum, he added.
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