Gold hits Rs 1.50 lakh in futures trade

Gold futures climbed Rs 1,272 to Rs 1.50 lakh per 10 grams on the Multi Commodity Exchange as traders created fresh positions amid firm spot demand. Globally, gold futures also advanced more than 1 per cent in New York

New Delhi: Gold prices on Friday rose Rs 1,272 to Rs 1.50 lakh per 10 grams in futures trade as speculators created fresh positions amid firm spot demand.

On the Multi Commodity Exchange, gold contracts for October delivery traded higher by Rs 1,272, or 0.85 per cent, at Rs 1,50,130 per 10 grams in a business turnover of 1,283 lots.

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

Globally, gold futures rose 1.13 per cent to USD 4,287.50 per ounce in New York.