The price of gold rose on Thursday, increasing by Rs 209 to reach Rs 72,877 per 10 grams in futures trade due to speculators creating new positions in response to strong spot demand. On the Multi Commodity Exchange, gold contracts for August delivery were up by Rs 209 or 0.29%, reaching Rs 72,877 per 10 grams with a business turnover of 12,343 lots. Analysts attributed the increase in gold prices to the buildup of new positions by market participants. Globally, gold futures in New York also saw a 0.24% increase, reaching USD 2,385.40 per ounce.
Gold futures rise Rs 209 to Rs 72,877 per 10 g
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