Gold futures rise to ₹1.51 lakh/10 gm on firm spot demand
On the Multi Commodity Exchange, the yellow metal contract for December delivery traded higher by ₹1,690, or 1.13 per cent, at ₹1,51,300 per 10 grams in a business turnover of 2,139 lots
On Friday, gold prices experienced a significant increase, reaching ₹1,51,300 per 10 grams in futures trading, according to the Multi Commodity Exchange. This rise was attributed to speculators creating new positions driven by strong spot demand. The December delivery contract for the yellow metal saw a 1.13% increase, or ₹1,690, in value, totaling a trading volume of 2,139 lots.
Analysts noted that fresh market participation contributed to the upward movement in gold prices. Simultaneously, gold futures in New York climbed 1.43% to reach $4,191.51 per ounce.
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