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Commodities

Gold Futures Soar on Firm Spot Demand in India

Guavy AI Editorial Team
Instruments
Gold
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Gold futures rose sharply in India's futures market on Monday, driven by strong spot demand and fresh positions created by speculators. The price of gold for October delivery climbed to Rs 1.53 lakh per 10 grams, an increase of Rs 231 from the previous day.

The rise was attributed to market participants creating new positions, analysts said. This led to a surge in prices, with the precious metal's value increasing by 0.15% in 867 lots.

Meanwhile, gold futures traded higher in New York, rising 0.47% to $4,419.57 per ounce.

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