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Commodities

Gold Prices Surge Rs 1288 on Firm Demand

Guavy AI Editorial Team
Instruments
Gold
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Gold futures prices rose significantly on Wednesday, gaining Rs 1,288 to reach Rs 1,50,111 per 10 grams in futures trade. This increase was largely driven by speculators creating fresh positions due to firm spot demand. On the Multi Commodity Exchange, the gold contract for December delivery saw a rise of 0.87% in value, with a business turnover of 1,092 lots.

The analysts attribute this price hike to the fresh positions taken by market participants. They also pointed out that despite the increase, gold futures declined slightly in New York, trading at USD 4,178.02 per ounce on Wednesday.

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