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Commodities

Gold Futures Soar on Strong Spot Demand and Speculator Activity

Guavy AI Editorial Team
Instruments
Gold
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Gold futures have seen an increase in value due to strong spot demand. The prices of gold rose by Rs 924, reaching Rs 1.54 lakh per 10 grams in futures trade.

This rise is attributed to speculators creating fresh positions on a firm spot market. Analysts note that the growth in precious metal prices is a result of participants building up new positions.

The October delivery contracts for gold traded higher by 0.6% in a business turnover of 848 lots.

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