Gold Futures Rise on Strong Spot Demand

Gold prices edged higher in futures trading on Wednesday as strong spot demand prompted speculators to build fresh positions, analysts said.

On the Multi Commodity Exchange (MCX), gold contracts for August delivery rose by ₹154, or 0.16%, to ₹97,056 per 10 grams. The session saw a business turnover of 13,323 lots.

Market analysts attributed the price rise to increased demand in the physical market, which encouraged participants to take fresh long positions in the futures segment.

The upward movement in gold prices reflects both domestic festive buying interest and global cues, analysts added. The yellow metal has remained in focus amid economic uncertainties and currency fluctuations.