Gold Prices Surge Rs 13,090 Amid Speculator Activity

Gold prices surged on Friday, reaching as high as Rs 1,54,290 per 10 grams in futures trade. The increase of Rs 1,309 marked a significant rise, with analysts attributing it to speculators creating fresh positions amid strong spot demand.

The Multi Commodity Exchange saw the gold contract for October delivery trade higher by Rs 1,309, or 0.86 per cent, with a business turnover of 2,156 lots.

Market participants' fresh positions led to the rise in precious metal prices, according to analysts. Additionally, gold futures rose 1.16 per cent to USD 4,392.24 per ounce in New York.