Gold futures rise to ₹1.39 lakh/10 gm on firm spot demand
On MCX, the yellow metal contract for December delivery traded higher by ₹510, or 0.37%, at ₹1,39,962 per 10 grams in a business turnover of 876 lots.
Gold prices surged to ₹1,39,962 per 10 grams in futures trade on Wednesday, driven by speculators opening fresh positions amidst robust demand from spot market. The Multi Commodity Exchange reported a rise of Rs 510, or 0.37 percent, in the December delivery contract for the yellow metal, with a trading volume of 876 lots. Analysts attributed the price increase to the influx of new positions by market participants. Gold futures also gained 0.46 percent to USD 3,947.6 per ounce in New York.
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