Gold Futures Surge Amid Strong Spot Demand

Gold prices increased by Rs 1,297 to Rs 1,52,715 per 10 grams in futures trade due to strong spot demand. The Multi Commodity Exchange saw gold contracts for April delivery trade at higher rates with participants’ fresh positions being a key factor in driving the price up globally.

Gold prices surged by Rs 1,297, reaching Rs 1,52,715 per 10 grams in futures trade on Wednesday, spurred by robust spot demand.

On the Multi Commodity Exchange, April delivery gold contracts witnessed a climb of 0.86 percent within a trading volume of 1,557 lots, according to analysts.

Globally, gold futures in New York reflected this trend, rising by 0.89 percent to reach USD 4,921 per ounce.

(With inputs from agencies.)