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

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.

On Monday, gold prices rose Rs 151 to Rs 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 Rs 151, or 0.29 per cent, at Rs 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 Rs 323 to Rs 52,010 per 10 gram in futures trade. Gold contracts for October delivery on MCX traded higher by Rs 323, or 0.62 per cent, at Rs 52,010 per 10 gram in a business turnover of 11,397 lots.