New Delhi (Economy India): Gold prices moved higher in futures trade on Wednesday, gaining ₹243 to touch ₹1,00,400 per 10 grams. The rise was attributed to robust demand in the spot market and fresh positions taken by participants in the futures segment.
MCX October Contract Sees Positive Momentum
On the Multi Commodity Exchange (MCX), gold contracts for October 2025 delivery advanced by ₹243, or 0.24%, settling at ₹1,00,400 per 10 grams. The session witnessed active participation, with a total turnover of 12,790 lots.
Spot Market Strength Drives Gains
Market analysts noted that the upward movement in futures was largely influenced by a firm trend in the domestic spot market. Higher jewellery demand from retailers ahead of the festive season, combined with steady buying by stockists, provided a strong foundation for prices.
Analyst Insight
“Strong physical demand ahead of Raksha Bandhan and Ganesh Chaturthi has kept spot prices buoyant, which in turn is supporting the futures market,” said an MCX market analyst. “Speculative buying by traders, anticipating further price appreciation, has added to the momentum.”
Global Cues Remain Supportive
Internationally, gold prices were trading slightly higher amid renewed safe-haven buying, as investors monitored geopolitical developments and awaited fresh signals from the U.S. Federal Reserve on interest rates.
- COMEX Gold was quoted near $2,460 per ounce, up 0.15%.
- The U.S. Dollar Index remained steady, limiting major moves in global bullion prices.
Festive and Seasonal Demand Outlook
With the upcoming wedding and festive season in India — historically a peak period for gold purchases — traders expect sustained demand to keep prices supported. Any weakness in the rupee against the U.S. dollar could also add to domestic price strength.
Key Highlights Table
| Factor | Data / Observation |
|---|---|
| MCX October Gold Price | ₹1,00,400/10g |
| Change from Previous Close | +₹243 (+0.24%) |
| Turnover | 12,790 lots |
| Spot Market Trend | Firm, driven by festive demand |
| Global COMEX Gold Price | $2,460/oz (+0.15%) |
| Seasonal Demand | High due to Raksha Bandhan, Ganesh Chaturthi |
| Market Sentiment | Bullish short-term |
