Gold Futures Surge as Investors Build Fresh Positions

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Gold prices in India's futures market saw a sharp rise on May 6, climbing Rs 1,613 to reach Rs 96,262 per 10 grams. The surge is attributed to strong spot demand and increased investor activity, reflecting a broader trend in global markets.

Market Developments
- Gold contracts for June delivery on the Multi Commodity Exchange gained 1.7 percent, trading at Rs 96,262 per 10 grams.
- Analysts point to fresh positions built by participants as a key driver of the price increase.
- Global gold futures also saw an uptick, rising 0.89 percent to USD 3,363.86 per ounce in New York.
- The rise in gold prices aligns with investor sentiment favoring safe-haven assets amid economic uncertainties.

Experts suggest that the upward movement in gold futures could continue if demand remains strong and global market conditions support further gains. Investors are closely monitoring economic indicators and central bank policies that may influence future price trends.

Sources: Rediff Money, Deccan Herald, ThePrint Hindi