“Gold Prices Surge by Rs 470 to Rs 72,767 per 10g on Robust Demand”

The price of gold rose by Rs 470 to reach Rs 72,767 per 10 grams in futures trade on Wednesday, as speculators entered new positions due to strong spot demand. On the Multi Commodity Exchange, gold contracts for June delivery traded 0.65% higher at Rs 72,767 per 10 grams with a business turnover of 12,040 lots. Analysts attributed the increase in gold prices to the creation of new positions by market participants. Globally, gold futures in New York rose by 0.81% to USD 2,379.10 per ounce.