Speculation causes gold prices to rise

Gold prices recovered by Rs 18, or 0.09 per cent, to Rs 19,060 per ten gram in futures trade today, as speculators created fresh positions on the back of a rise in demand at spot markets.

Gold prices recovered by Rs 18, or 0.09 per cent, to Rs 19,060 per ten gram in futures trade today, as speculators created fresh positions on the back of a rise in demand at spot markets.

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At the Multi Commodity Exchange platform, gold for December recovered by Rs 18, or 0.09 per cent, to Rs 19,060 per ten gram, with an open interest of 3,857 lots.

The metal for delivery in October-month also edged up by Rs 15, or 0.08 per cent, to Rs 18,948 per ten gram, with an open interest of 19,981 lots. Marketmen said fresh position created by speculators, influenced the rising demand in the spot demand.