Gold Futures Rise on Strong Spot Demand

Gold futures rose by Rs 69 to Rs 75,720 per 10 grams in Friday’s trading, driven by solid spot demand. Speculators built fresh positions, contributing to the uptick in prices.

Futures Trading on the Multi Commodity Exchange

On the Multi Commodity Exchange (MCX), gold contracts for February delivery increased by Rs 69, or 0.09%, reaching Rs 75,720 per 10 grams. The rise occurred amid a business turnover of 13,057 lots, reflecting active participation in the market.

Analysts Cite Position Building as a Key Factor

Analysts attributed the rise in gold prices to the creation of fresh positions by market participants, which helped push prices higher.

Global Gold Futures Show Moderate Gains

On the global front, gold futures edged up by 0.11%, reaching USD 2,596.91 per ounce in New York.

• What is Riskier: Options VS Futures?
• Where Do Futures Prices Come From?
• Do You Pay Interest When Shorting Futures?