Gold Futures Surge on Spot Demand
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Gold prices jumped Rs 1,065 to Rs 97,140 per 10 grams in futures trade due to strong spot demand and increased speculator positions. Global gold futures also saw a rise.
Photograph: Heinz-Peter Bader/Reuters/Reuters
New Delhi, Jul 1 (PTI) Gold prices on Tuesday jumped Rs 1,065 to Rs 97,140 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 Rs 1,065 or 1.11 per cent at Rs 97,140 per 10 grams in a business turnover of 13,124 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures rose 1.15 per cent to USD 3,345.70 per ounce in New York.
On the Multi Commodity Exchange, gold contracts for August delivery traded higher Rs 1,065 or 1.11 per cent at Rs 97,140 per 10 grams in a business turnover of 13,124 lots.
Fresh positions built up by participants led to a rise in gold prices, analysts said.
Globally, gold futures rose 1.15 per cent to USD 3,345.70 per ounce in New York.
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