Gold Prices Surge Amid Fresh Positions

Gold prices in futures trade rose by Rs 231 to Rs 1,53,994 per 10 grams on Thursday, with analysts attributing this increase to fresh positions created by market participants. On the Multi Commodity Exchange (MCX), the October gold contract gained 0.15% in a business turnover of 867 lots.

The rise in global gold futures was also reported, climbing 0.47% to USD 4,419.57 per ounce in New York, but silver prices declined by Rs 568 to Rs 2,43,645 per kg in futures trade. The December silver contract on the MCX fell 0.23%, with a business turnover of 1,262 lots, as participants reduced their bets.

Silver was trading 0.50% higher at USD 67.63 per ounce in global markets, but this did not offset the decline in futures trade.