Gold futures surge to Rs 22,420/10 gms

Gold prices traded marginally higher by Rs 6 to Rs 22,420 per 10 grams in futures trade.

Gold prices traded marginally higher by Rs 6 to Rs 22,420 per 10 grams in futures trade on Thursday as speculators created fresh positions amid better global cues.

At the Multi Commodity Exchange,gold for delivery in October traded higher by Rs 6,or 0.03 per cent,to Rs 22,420 per 10 grams,with a business turnover of 62 lots.

Similarly,the metal for delivery in August inched up by Rs 5,or 0.02 per cent,to Rs 22,142 per 10 grams in 1,941 lots.

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Market analysts said fresh buying by speculators and reports of a firming trend in global markets mainly led to the rise in gold futures prices.

Meanwhile,gold rose by 0.03 per cent to USD 1,512.20 an ounce in Asian region.

Human activity, rising industrial emissions, and the surge in wildfires were identified as major contributors to the record levels. (File)

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