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NEW DELHI, May 27: Gold prices increased by Rs 363 to Rs 71,619 per 10 grams in futures trade on Monday. This rise was driven by speculators creating fresh positions in response to a firm spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for June delivery saw a hike of Rs 363, or 0.51%, reaching Rs 71,619 per 10 grams in a business turnover involving 6,575 lots.
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Analysts attributed the increase in gold prices to the buildup of new positions by market participants. This movement indicates a positive sentiment towards gold, reflecting expectations of continued demand and potential price appreciation.
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