Gold Futures Rise on Strong Spot Demand at MCX
Gold futures prices rose on the Multi Commodity Exchange (MCX) due to strong spot demand. The October delivery contracts traded higher by Rs 364, or 0.25 per cent, at Rs 1,43,740 per 10 grams in a business turnover of 1,691 lots.
Speculators created fresh positions on the MCX, which led to an increase in prices. Analysts attribute this rise to a firm spot demand for gold.