Gold Prices Soar to Rs 1.50 Lakh on Strong Spot Demand

Gold prices surged in India on Friday, reaching Rs 1.50 lakh per 10 grams in futures trade. This increase was driven by traders creating fresh positions amidst strong spot demand.

The Multi Commodity Exchange saw gold contracts for October delivery trading higher by Rs 1,272, or 0.85%, at Rs 1,50,130 per 10 grams in a business turnover of 1,283 lots.

According to analysts, the rise in gold prices was due to fresh positions being built by participants.