Gold Futures Surge in India, Reaching Rs 1,43,740 Per 10 Grams

Gold futures rose on Monday in India, climbing to Rs 1,43,740 per 10 grams as strong spot demand drove prices higher. The increase was led by speculators building fresh positions, analysts said.

The price rise mirrors gains seen globally, where gold futures rose 0.33% to USD 4,059.48 per ounce in New York. On the Multi Commodity Exchange, yellow metal contracts for October delivery traded higher by Rs 364, or 0.25%, at Rs 1,43,740 per 10 grams.

The increase was driven by a business turnover of 1,691 lots, according to data from MCX. Analysts attributed the rise in prices to participants creating fresh positions on a firm spot demand.