Gold futures surge on domestic demand

NEW DELHI: Gold prices rose by Rs 469 to Rs 46,755 per 10 gram in futures trade on Wednesday as speculators created fresh positions on firm spot demand.
On the Multi Commodity Exchange, gold contracts for June traded higher by Rs 469, or 1.01 per cent, at Rs 46,755 per 10 gram in a business turnover of 17,493 lots.

The yellow metal for August delivery edged up by Rs 446, or 0.96 per cent, to Rs 46,900 per 10 gram in a business turnover of 2,090 lots.

Fresh positions built up by participants mainly led to the rise in gold prices, analysts said.

Globally, however, gold prices fell 1.12 per cent to USD 1,749.10 per ounce in New York.