Gold futures rise Rs 654 as speculators build fresh positions

Gold is a shiny metal that many people like to buy.

Some people buy and sell gold without holding it, using something called futures.

A future is a promise to buy or sell gold later at a set price.

In India, the price of this gold future went up.

It rose by 654 rupees, to 1,49,147 rupees for ten grams.

This happened on a big trading platform called the Multi Commodity Exchange.

Traders, called speculators, bought more gold futures because many people wanted to buy real gold now.

When lots of people want to buy something, its price goes up.

Gold futures also rose a little in New York, to $4,254.38 per ounce.

So, when people expect gold to be popular, its price goes up.