Gold Prices Climb Amid Firm Demand and Fresh Positions

Gold prices rose on October 1 due to firm spot demand and fresh positions taken by market participants in futures trade. The price of gold futures increased by Rs 1,475, or 0.99%, from its previous close.

The October gold contract on the Multi Commodity Exchange (MCX) was trading at Rs 1,50,511 per 10 grams, with a business turnover of 2,019 lots during the session.

Market analysts attributed the rise in gold futures to fresh positions created by participants amid firm demand in the spot market. Gold futures in New York also remained higher, rising 0.59% to $4,182.06 per ounce.