On the Multi Commodity Exchange (MCX), gold for December supply was trading higher by Rs 205, or 0.41 per cent, at Rs 50,399 per 10 grams, with a business turnover of 17,446 lots
Gold futures on Monday rose by Rs 205 to Rs 50,399 per 10 grams as traders increased their positions amid strong spot demand in the domestic market on account of the festive season in India.
On the Multi Commodity Exchange (MCX), gold for December supply was trading higher by Rs 205, or 0.41 per cent, at Rs 50,399 per 10 grams, with a business turnover of 17,446 lots. Market analysts said buying of fresh positions by participants led to the rise in gold futures prices. On the other hand, gold was trading 0.19 per cent higher at USD 1,675.10 an ounce in New York.
In the international market, gold prices rose 0.3 per cent to USD 1,665.29 an ounce, US gold futures rose 0.1 per cent to USD 1,673.30. While spot silver rose 0.7 per cent to USD 19.12 an ounce, platinum rose 0.3 per cent to USD 861.50 and palladium rose 0.5 per cent to USD 2,167.75.