Gold Rate Today: Bullion surges in futures trade on strong spot demand

NEW DELHI: Bullion price surged in futures trade on Monday, backed by strong demand by local jewellers at the spot market to meet orders in the wedding season.

Positive global trend further bolstered the mood. Gold prices held steady on Monday, near a seven-month peak scaled in the previous session, on hopes the US Federal Reserve will keep interest rates unchanged during its two-day policy meeting later in the week, Reuters reported.




The MCX Gold was trading at Rs 32530 per 10 grams, up by Rs 187, while MCX Silver was trading up by Rs 396 at Rs 40,066 a kilo around 11:05 am.

Traders said demand from local jewellers in the ongoing wedding season boosted the gold prices, while the silver prices climbed on strong orders from industrial units and coin makers.