Gold Price Today, 12 September 2024: Gold Futures Rise Rs 86 To Rs 72,013/10G

New Delhi: Gold prices on Thursday increased Rs 86 to Rs 72,013 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for October delivery traded higher Rs 86 or 0.12 per cent at Rs 72,013 per 10 grams in a business turnover of 14,775 lots.

Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.21 per cent to USD 2,547.80 per ounce in New York.

Yesterday, Gold prices climbed Rs 500 to Rs 74,600 per 10 grams in the national capital on account of increased buying by local jewellers as well as strong cues in the global markets. The precious metal of 99.9 per cent purity had closed at Rs 74,100 per 10 grams in the previous close on Tuesday. With this, gold prices have surged over Rs 1,000 over the past two days.

Silver prices, too jumped Rs 500 to Rs 85,000 per kilogram on Wednesday. It had finished at Rs 84,500 per kg in the previous session, according to All India Sarafa Association.

Meanwhile, gold of 99.5 per cent purity also rallied Rs 500 to Rs 74,250 per 10 grams from Rs 73,750 per 10 grams.

Traders said sentiment turned upbeat on the back of a pick-up in buying from local jewellers and retailers, thereby leading to a rise in gold prices.