Gold futures soar on spot demand, global cues

On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 761, or 2.30 per cent, at Rs 33,840 per 10 gram in a business turnover of 18,785 lots.




Gold prices rose by Rs 761 to Rs 33,840 per 10 gram in futures trade Thursday as participants created fresh positions, tracking a firm trend overseas.

On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 761, or 2.30 per cent, at Rs 33,840 per 10 gram in a business turnover of 18,785 lots.

Gold contracts for October delivery also rose by Rs 719, or 2.16 per cent, to Rs 34,000 per 10 gram in 4,068 lots.

Market analysts said the rise in gold prices was mostly due to the widening of positions by participants in the domestic market.


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