Gold futures gain 1.05% on spot demandhttps://indianexpress.com/article/business/market/gold-futures-gain-1-05-on-spot-demand-5813170/

Gold futures gain 1.05% on spot demand

On the Multi Commodity Exchange, gold for delivery in August contracts moved up by Rs 358, or 1.05 per cent, to Rs 34,400 per 10 gram in a business turnover of 17,270 lots.

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Globally, however, gold fell 1.53 per cent to USD 1,429.60 an ounce in Singapore. (Representational Image)

Gold prices rose 1.05 per cent to Rs 34,400 per 10 gram in futures trade Wednesday on speculative buying triggered by a firm domestic trend.

On the Multi Commodity Exchange, gold for delivery in August contracts moved up by Rs 358, or 1.05 per cent, to Rs 34,400 per 10 gram in a business turnover of 17,270 lots.

The far-month October contracts too was trading higher by Rs 371, or 1.08 per cent, at Rs 34,620 per 10 gram in 6,753 lots.

Analysts said fresh positions built up by participants largely in sync with a firm trend supported the upside in gold prices at futures trade here.

Globally, however, gold fell 1.53 per cent to USD 1,429.60 an ounce in Singapore.