Gold Prices Spike Amid Global Uncertainty
Gold prices increased by Rs 890 to Rs 1,60,599 per 10 grams in futures trade on Friday as speculators created new positions due to strong spot demand. While the US dollar remained firm, global geopolitical tensions fueled safe-haven demand, contributing to the rise in gold contracts.
- Country:
- India
Gold prices surged by Rs 890 to Rs 1,60,599 per 10 grams on Friday in futures trading, driven by fresh speculative positions amid robust spot demand.
On the Multi Commodity Exchange, gold contracts for April delivery climbed by 0.56 percent, within a business turnover of 7,735 lots, according to market analysts.
Despite a stronger US dollar, global tensions and safe-haven demand helped sustain gold prices, with futures in New York edging up 0.26 percent to USD 5,199.66 per ounce.
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