Gold Futures Rise Rs 1,501 as Speculators Bet on Firm Demand

New Delhi saw gold futures rise by Rs 1,501 to Rs 1.54 lakh per 10 grams in futures trade on August 11 as speculators created fresh positions due to firm spot demand.

The Multi Commodity Exchange saw the yellow metal contracts for October delivery trading higher at Rs 1,54,600 per 10 grams in a business turnover of 1,332 lots.

Fresh positions built up by participants led to a rise in precious metal prices, analysts said. Globally, gold futures increased by 0.35% to USD 4,406.15 per ounce in New York.