Gold Rates Surge Amid Rising Market Demand: SRINAGAR: Gold prices advanced on Friday in futures trade, rising by Rs 689 to Rs 1,52,950 per 10 grams, supported by fresh buying from speculators and firm spot demand in the domestic market.
On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher by Rs 689, or 0.45 per cent, at Rs 1,52,950 per 10 grams, with a business turnover of 1,206 lots during the session.
Market participants said the upward movement was primarily driven by the build-up of fresh positions, reflecting sustained investor interest in bullion amid supportive demand conditions. Analysts noted that steady retail and institutional buying in the spot market also contributed to the positive sentiment.
Traders added that gold continues to attract safe-haven demand, with price movements influenced by global economic cues, currency fluctuations, and expectations around monetary policy direction.
In the international market, gold futures also traded higher, gaining 0.91 per cent to $4,728.57 per ounce in New York. Analysts said global bullion prices remained firm amid continued investor positioning and broader macroeconomic uncertainty.
Overall, market observers expect gold prices to remain sensitive to international trends, domestic demand patterns, and movement in the US dollar in the near term.(KASHMIR LIFE)