Home Business Gold futures surge on spot demand, global cues

Gold futures surge on spot demand, global cues

by the owl speaks

Gold prices increased by Rs 392 on Friday to Rs 46,780 per 10 grams in futures trading as speculators built new positions on firm spot demand.

On the Multi Commodity Exchange, in a market turnover of 9,360 lots, June gold contracts traded higher by Rs 392, or 0.85 per cent, to Rs 46,780 per 10 gram.

In a company turnover of 11,077 lots, the yellow metal for August delivery edged up by Rs 416, or 0.89 per cent, to Rs 46,927 per 10 g.

Fresh positions built up by participants contributed primarily to gold price increases, analysts said.

Globally, gold prices in New York finished 0.71 per cent higher at $1,734.10 an ounce.

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