Gold Futures Soar on Firm Spot Demand and Speculator Activity

Gold futures prices rose on the Multi Commodity Exchange (MCX) after firm spot demand and fresh positions created by speculators boosted trading.

The gold contract for October delivery increased by Rs 803, or 0.53%, to trade at Rs 1,51,612 per 10 grams with a business turnover of 775 lots.

Market analysts attribute the rise in gold futures to fresh positions taken by participants amid firm demand in the spot market.

In international trade, gold futures advanced 0.70% to USD 4,322.14 per ounce in New York.