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Commodities

MCX Gold Futures Soar to Rs 1.50 Lakh/10g on Strong Demand and Global Price Rise

Guavy AI Editorial Team
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Gold
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On August 7, gold futures on the Multi Commodity Exchange (MCX) surged to Rs 1.50 lakh per 10 grams due to strong spot demand and a significant rise in global prices.

The October delivery contracts traded higher by Rs 1,272, or 0.85%, at Rs 1,50,130 per 10 grams, with a business turnover of 1,283 lots. Analysts attributed the price increase to fresh positions built up by participants.

Globally, gold futures rose 1.13% to USD 4,287.50 per ounce in New York. The surge in spot demand contributed to the higher prices on the MCX.

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