Gold futures rise to ₹1.47 lakh/10 gm on firm spot demand
Fresh positions by market players led to the rise in the precious metal's prices
Gold prices climbed by ₹1,353 to ₹1,47,201 per 10 grams on Thursday in futures trade, as speculators placed new positions driven by strong demand in the spot market. The Multi Commodity Exchange reported a December delivery contract for the yellow metal trading up by ₹1,353, or 0.93 per cent, to ₹1,47,201 per 10 gm, with a trading volume of 1,567 lots. Analysts attributed the price increase to fresh positions from market participants. Gold futures also rose 0.81 per cent to $4,138.72 per ounce in New York.
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