Gold Futures Rise to Rs 1.63 Lakh on Strong Spot Demand
Gold futures surged to Rs 1.63 lakh per 10 grams on MCX due to strong spot demand and fresh speculative positions.
New Delhi saw a rise in gold prices as speculators created fresh positions on a firm spot demand, leading to an increase of 0.79% or Rs 1,283 in the yellow metal contracts for October delivery.
The Multi Commodity Exchange reported a business turnover of 3,424 lots, with gold futures trading at Rs 1,63,721 per 10 grams.
Globally, gold futures increased by 0.99% to USD 4,648.78 per ounce in New York.