Indian Gold Futures Rise Amid Strong Spot Demand
Gold prices inched up by Rs 309 to Rs 1,52,650 per 10 grams in futures trade due to strong spot demand. Speculators created fresh positions on firm spot demand, causing gold futures to rise.
The yellow metal contract for the October delivery traded higher by 0.20% in a business turnover of 10,209 lots. This indicates that market participants are taking advantage of current prices and adding to their holdings.
Meanwhile, gold futures rose 0.44% to $4,387.97 per ounce in New York, highlighting the impact of global demand on domestic prices.