Gold futures prices surged by Rs 73 to Rs 20,525 per 10 grams on Thursday, after speculators enlarged their positions, driven by a firm trend overseas and at the spot market due to the ongoing marriage season.Sentiment remained firm after the precious metal climbed to the highest level in more than two weeks in the overseas markets as concerns about Europe’s debt crisis and weak dollar boosted the demand for an alternative investment.
Besides, firming trend at the domestic market for the ongoing marriage season also influenced gold futures prices here, analysts said.At the Multi Commodity Exchange counter, December contract gained by Rs 73 or 0.7 per cent to Rs 20,525 per 10 grams. It closed 0.41 per cent down at Rs 20,452 per 10 grams after hitting a record high of Rs 20,698 in the previous choppy session.The yellow metal for June contract also rose Rs 70 or 0.29 per cent to Rs 20,989 per 10 grams, while April contract was up by Rs 69 or 0.27 per cent to Rs 20,880 per ten grams.Globally, gold shot up by $5.70 or 0.37 per cent to $1,392.70 an ounce at Hong Kong.
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