Gold Prices Soar Rs 1,288 Amid Fresh Positions

Gold futures rose by Rs 1,288 to Rs 1,50,111 per 10 grams on Wednesday in futures trade due to fresh positions and firm spot demand. Speculators created new positions, which led to an increase in the precious metal's prices.

The gold contract for December delivery traded higher by Rs 1,288 or 0.87 percent at Rs 1,50,111 per 10 grams on the Multi Commodity Exchange with a business turnover of 1,092 lots. Market participants' fresh positions contributed to the rise in gold prices.

Gold futures declined 0.10 percent to USD 4,178.02 per ounce in New York. Analysts said that market participants' fresh positions led to the increase in gold prices.