1 week ago
Gold Futures Rise on Firm Spot Demand in India
Gold futures prices in India went up slightly.
The price increased by Rs 115 for every 10 grams.
Traders said people were buying gold in the physical, or spot, market.
Speculators also opened new trading positions.
The October gold contract on the Multi Commodity Exchange rose 0.07%.
It was traded in 674 lots.
However, gold futures in New York moved in the opposite direction.
They fell 0.30% to $4,643.42 per ounce.
Gold prices rose Rs 115 to Rs 1.62 lakh per 10 grams in futures trading.
The increase was attributed to fresh positions created by speculators and firm spot demand.
The October gold contract on the Multi Commodity Exchange gained 0.07%.
Trading volume for the October contract stood at 674 lots.
Gold futures in New York fell 0.30% to $4,643.42 per ounce.
- Who
- Speculators and other market participants traded gold futures.
- What
- Gold futures rose by Rs 115 to Rs 1.62 lakh per 10 grams in India.
- Where
- The domestic trading was reported in New Delhi on the Multi Commodity Exchange; New York gold futures were also cited.
- When
- The report does not specify a calendar date; it refers to the October-delivery contract.
- Why
- Fresh positions by market participants and firm spot demand supported domestic gold prices.
Key facts
- Domestic gold price
- Rs 1.62 lakh per 10 grams
- Price change
- Up Rs 115
- Contract
- October delivery
- Exchange
- Multi Commodity Exchange
- Domestic contract movement
- Up 0.07%
- Trading volume
- 674 lots
- New York gold futures
- Down 0.30% to $4,643.42 per ounce
Sources
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