Gold Prices Soar ₹803 in India Amid Strong Demand
Gold prices in India rose sharply on Wednesday, September 16, due to firm spot demand and fresh positions by market participants. The yellow metal contract for October delivery on the Multi Commodity Exchange (MCX) traded at ₹1,51,612 per 10 grams, a gain of ₹803 or 0.53%.
The business turnover was 775 lots, indicating significant activity in the gold futures market. Analysts attributed the price rise to speculators creating fresh positions on strong spot demand.
Meanwhile, gold futures on the New York market rose by 0.70% to $4,322.14 per ounce, further supporting the uptrend in Indian prices.