Gold prices hold place for the week on spot demand, end ₹51,535 per 10 gram in futures trade

On Monday, gold prices rose ₹151 to ₹51,470 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.

Gold prices started up in futures trade at the start of the week and continued to hold the spot, losing only once on Thursday, as they tracked global rates. Through the six months of coronavirus pandemic-led turmoil in financial markets, gold prices have been one of the most consistent gainers.

Ingots of 99.99% pure gold are seen in this file photo. (Reuters Photo)

On Monday, gold prices rose ₹151 to ₹51,470 per 10 gram in futures trade as speculators created fresh positions on firm spot demand. On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded higher by ₹151, or 0.29 per cent, at ₹51,470 per 10 gram in a business turnover of 11,745 lots.

Analysts said fresh positions built up by participants led to the rise in gold prices.

On Tuesday, as speculators created fresh positions on firm spot demand gold prices rose ₹323 to ₹52,010 per 10 gram in futures trade. Gold contracts for October delivery on MCX traded higher by ₹323, or 0.62 per cent, at ₹52,010 per 10 gram in a business turnover of 11,397 lots.

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

The yellow metal held on Wednesday as well as prices rose by ₹153 to ₹51,922 per 10 gram in the futures trade as speculators created fresh positions on firm spot demand. On MCX, gold contracts for the October delivery traded higher by ₹153, or 0.3 per cent, at ₹51,922 per 10 gram in a business turnover of 10,814 lots.

Gold futures on Thursday fell 0.78 per cent to ₹51,420 per 10 gram as participants offloaded their holdings on low spot demand. On MCX, gold prices for the October delivery declined by ₹404, or 0.78 per cent, to ₹51,420 per 10 gram in a business turnover of 10,142 lots.

The yellow metal for the December delivery eased by ₹393, or 0.76 per cent, to ₹51,595 per 10 gram in 8,192 lots.

Gold prices rose ₹82 to ₹51,535 per 10 gram in futures trade on Friday as speculators created fresh positions on firm spot demand. Gold contracts for October delivery on MCX traded higher by ₹82, or 0.16 per cent, at ₹51,535 per 10 gram in a business turnover of 9,286 lots.

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

(With PTI inputs)