1 week ago
Gold Futures Rise Rs 1,283 on Firm Spot Demand
Gold prices went up on Monday.
The October gold contract became Rs 1,283 more expensive.
It reached Rs 1,63,721 for every 10 grams.
Traders opened fresh positions in the market.
Strong demand for gold available for immediate purchase also helped prices rise.
The trading happened on the Multi Commodity Exchange.
About 3,424 lots were traded.
Gold futures in New York also rose by 0.99%.
October gold futures rose Rs 1,283, or 0.79%, to Rs 1,63,721 per 10 grams.
The contracts traded on the Multi Commodity Exchange in a turnover of 3,424 lots.
Analysts attributed the price increase to fresh positions built by market participants.
Firm spot demand also supported the rise in gold prices.
Globally, gold futures increased 0.99% to USD 4,648.78 per ounce in New York.
- Who
- Gold futures traders, speculators, and other market participants.
- What
- October gold futures rose Rs 1,283, or 0.79%, to Rs 1,63,721 per 10 grams.
- Where
- The contracts traded on the Multi Commodity Exchange, while global futures rose in New York.
- When
- Monday; the contract was for October delivery.
- Why
- Fresh positions were created amid firm spot demand, supporting gold prices.
Key facts
- October gold futures price
- Rs 1,63,721 per 10 grams
- Price increase
- Rs 1,283, or 0.79%
- Trading venue
- Multi Commodity Exchange
- Trading turnover
- 3,424 lots
- Global gold futures
- Up 0.99% to USD 4,648.78 per ounce
- Reported drivers
- Fresh positions and firm spot demand
Sources
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