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Commodities

Gold Futures Surge on Strong Spot Demand and Fresh Speculative Positions

Guavy AI Editorial Team
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Gold
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Gold futures on the Multi Commodity Exchange rose by Rs 984 to Rs 1,44,090 per 10 grams on Monday due to strong spot demand and fresh speculative positions.

The rise in prices is attributed to speculators creating new positions as a result of firm spot demand. This led to an increase in precious metal prices.

Globally, gold futures also rose by 0.86% to USD 4,087.69 per ounce in New York.

The strong demand for gold is expected to continue, with analysts attributing the rise in prices to fresh speculative positions and firm spot demand.

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