Gold Prices Surge as Demand Rises: Futures Up by Rs 32

Gold prices rose by Rs 32 to Rs 71,482 per 10 grams in futures trading, driven by speculators creating fresh positions due to strong spot demand. On the Multi Commodity Exchange, August gold contracts showed this increase in a turnover of 14,736 lots, influenced by participants.

In a noteworthy shift, gold prices rose by Rs 32 to Rs 71,482 per 10 grams in futures trading on Tuesday. This surge stemmed from speculators formulating fresh positions in response to solid spot demand.

On the Multi Commodity Exchange, gold contracts for August delivery gained Rs 32, or 0.04 per cent, reaching Rs 71,482 per 10 grams. This upturn was observed in a trading volume of 14,736 lots, reflecting the heightened market sentiment.

Analysts noted that the fresh positions erected by market participants were pivotal in elevating gold prices. On the global front, gold futures experienced a 0.23 per cent uptick, reaching USD 2,334.40 per ounce in New York.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)