Domestic gold prices moved higher in futures trade on Thursday, registering an increase of ₹102 to trade at ₹1,43,807 per 10 grams. According to market participants, the upward movement was supported by fresh positions created by speculators in response to firm spot demand.
On the Multi Commodity Exchange (MCX), the gold contract scheduled for December delivery recorded a rise of 0.07 per cent, moving up by ₹102 to reach the ₹1,43,807 per 10 grams mark. Market turnover for the contract stood at 811 lots during the trading session.
Analysts following the commodity markets noted that the domestic price trend was primarily influenced by local market participants initiating fresh positions. This domestic momentum contrasted with international trends recorded during the same period.
In global markets, gold futures registered a decline, falling by 0.58 per cent to settle at USD 4,043.77 per ounce in New York trade.
"The recent movement in domestic gold futures highlights the localized impact of spot demand and speculative positioning, which can occasionally diverge from global price trends. For businesses and investors managing capital allocation, such fluctuations underscore the importance of monitoring both domestic market sentiment and international commodity indices closely when assessing asset exposure." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
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