Gold Prices Rise in India on Firm Spot Demand

Gold prices rose on the Multi Commodity Exchange (MCX) on Friday, with August delivery contracts gaining Rs 689 to Rs 1,52,950 per 10 grams. Analysts attributed the rally to fresh positions created by traders and stronger global sentiment for the precious metal.

In the international market, gold futures gained 0.91 per cent to $4,728.57 per ounce in New York.

City-wise gold rates showed increases, with 24K gold priced at Rs 15,268-15,384 per gram, 22K at Rs 13,995-14,102 per gram, and 18K at Rs 11,451-11,772 per gram across cities like Bengaluru, Delhi, Mumbai, Chennai, Kolkata, Hyderabad, Ahmedabad, Jaipur, Bhubaneswar, Pune, and Kanpur.

The outlook for gold prices remains bullish, with traders expecting continued firm spot demand and speculative buying to support prices in the near term. The market will continue to monitor global sentiment and economic indicators for further direction.