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Gold futures surge on spot demand, global cues

Business Finance

Press Trust of India  |  New Delhi 

Gold prices on Friday rose by Rs 392 to Rs 46,780 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold contracts for June traded higher by Rs 392, or 0.85 per cent, to Rs 46,780 per 10 gram in a business turnover of 9,360 lots.

The yellow metal for August delivery edged up by Rs 416, or 0.89 per cent, to Rs 46,927 per 10 gram in a business turnover of 11,077 lots.

Fresh positions built up by participants mainly led to the rise in gold prices, analysts said.

Globally, gold prices traded higher by 0.71 per cent at USD 1,734.10 per ounce in New York.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 22 2020. 13:06 IST