Gold Prices Climb Rs 803 Amid Speculation and Firm Demand

On Wednesday, gold prices in India surged to Rs 1,51,612 per 10 grams on the Multi Commodity Exchange (MCX) due to increased speculation and strong spot demand. This represents a gain of Rs 803, or 0.53%, from the previous day's close.

The rise was attributed to fresh positions taken by speculators in the market, as well as firm buying interest at current levels. Trading activity in the gold contract for October delivery reached 775 lots on the MCX.

Meanwhile, gold futures in New York gained 0.70% to USD 4,322.14 per ounce, mirroring the trend seen in domestic markets.