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Commodities

Gold Futures Soar to Rs 1.49 Lakh on Strong Spot Demand

Guavy AI Editorial Team
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Gold
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Gold futures rose to Rs 1.49 lakh/10 gm on Thursday due to strong spot demand, according to MCX October contracts. The price increase came despite global prices being flat in New York.

The Multi Commodity Exchange saw a business turnover of 1,953 lots with the yellow metal contracts for October delivery trading higher by Rs 654, or 0.44%, at Rs 1,49,147 per 10 grams.

Analysts said fresh positions built up by participants led to a rise in precious metal prices. Globally, gold futures were stable, rising 0.18% to USD 4,254.38 per ounce in New York.

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