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Commodities

Gold Futures Skyrocket ₹1,475 to ₹1,50,511 per 10 Grams

Guavy AI Editorial Team
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Gold
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Gold futures on the Multi Commodity Exchange (MCX) surged by ₹1,475 to ₹1,50,511 per 10 grams due to strong spot market demand and fresh speculative positions. This increase was observed in October delivery contracts, which rose by 0.99%.

The price of international gold futures in New York also saw a rise of 0.59%, reaching USD 4,182.06 per ounce. Analysts attributed the increase to market participants creating fresh positions on firm spot demand.

New Delhi, Oct 1 (PTI) - The recent hike in gold prices can be attributed to several factors, including strong spot demand and speculative positions. As a result, gold futures have become increasingly attractive to investors looking for safe-haven assets.

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