Commodities
Gold Futures Surge 0.53% as Speculators Fuel Demand
Gold futures rose sharply on Wednesday, September 16, as speculators created fresh positions due to firm spot demand. The price of gold in futures trade increased by Rs 803 to Rs 1.51 lakh per 10 grams. This represents a 0.53% increase from the previous day's closing price.
The Multi Commodity Exchange saw a business turnover of 775 lots for the October delivery contract, which traded at Rs 1,51,612 per 10 grams. Analysts attributed the rise in gold prices to fresh positions created by market participants.