Indian Gold Prices Soar on Strong Demand and Speculator Interest

Gold futures rose sharply on Thursday in India, driven by strong demand for the precious metal. The price of gold surged to Rs 1.49 lakh per 10 grams, a gain of 0.44% on the Multi Commodity Exchange (MCX). This increase was largely due to speculators building up fresh positions, analysts said.

The MCX October contracts for gold traded at Rs 1,49,147 per 10 grams in a business turnover of 1,953 lots. Globally, gold futures also rose, increasing by 0.18% to USD 4,254.38 per ounce in New York.