Gold futures surge on domestic demand, firm global cues

Gold futures prices rose Rs 31 to Rs 20,026 per ten gram today, as speculators enlarged their positions, following a rise in demand in spot markets.

Firming trend in New York also influenced the trading sentiment.

At the Multi Commodity Exchange platform, gold for delivery in June rose by Rs 21, or 0.16 per cent, to Rs 20,026 per ten gram, with a business turnover of just one lot.

Similarly, the metal for delivery in December traded marginally higher by Rs 14, or 0.07 per cent, to Rs 19,543 per ten gram, with a trading volume of two lots.

Traders said fresh positions were created by speculators in anticipation of pick up in demand during the festive and marriage season in spot markets amid firming global trend. 

 

Meanwhile, gold rose by $10.80 to $1346.10 an ounce in New York last evening.