Indian Gold Prices Soar Amid Firm Demand

Gold prices in India surged on Thursday, reaching Rs 1,50,511 per 10 grams. The increase of Rs 1,475 was largely due to speculators taking fresh positions in response to firm demand from buyers. Analysts attributed the rise in gold futures to this increased activity.

The Multi Commodity Exchange saw a significant business turnover of 2,019 lots for the October delivery contract, with prices trading higher by Rs 1,475 or 0.99%.

Globally, gold futures rose 0.59% to USD 4,182.06 per ounce in New York, further contributing to the upward trend seen in Indian markets.

Silver prices also jumped on Thursday, with a rise of Rs 2,087 or 0.93%, reaching Rs 2,25,793 per kilogram for December delivery.