Gold Futures Prices Soar on Strong Spot Demand and Speculator Activity
Gold futures prices rose by ₹984 to ₹1,44,090 per 10 grams in futures trade on Monday, driven by a firm spot demand and fresh positions created by speculators. The Multi Commodity Exchange saw yellow metal contracts for August delivery trading higher by 0.69% at ₹1,44,090 per 10 grams in a business turnover of 591 lots.
Fresh positions built up by participants led to the rise in precious metal prices, according to analysts. Globally, gold futures also rose, with the price increasing by 0.86% to USD 4,087.69 per ounce in New York.