Gold futures rose by Rs 510 to Rs 1,39,962 per 10 grams on Wednesday as speculators created fresh positions. The rise followed firm spot demand on the Multi Commodity Exchange. Analysts said fresh positions by market participants led to the price hike. Globally, gold futures also rose in New York markets.
Gold prices on Wednesday rose by Rs 510 to Rs 1,39,962 per 10 grams in futures trade as speculators created fresh positions on firm spot demand.
On the Multi Commodity Exchange, the yellow metal contract for December delivery traded higher by Rs 510, or 0.37 per cent, at Rs 1,39,962 per 10 grams in a business turnover of 876 lots.
Fresh positions by market participants led to a rise in precious metal prices, analysts said.
Gold futures rose 0.46 per cent to USD 3,947.6 per ounce in New York.