New Delhi, Aug. 9 -- Gold prices surged by Rs.557 to Rs.1,02,025 per 10 grams in Friday's futures trade, driven by fresh positions from speculators amid robust spot demand. On the Multi Commodity Exchange, October gold contracts rose Rs.557, or 0.55 per cent, to Rs.1,02,025 per 10 grams, with a business turnover of 16,929 lots.

In the international market, Comex gold futures for December delivery slipped 0.07 per cent to $3,393.97 per ounce in New York.

The strong rally in the precious metal can be attributed to to strong safe-haven buying in the face of global uncertainty, increasing geopolitical tensions, and an anticipated rate cut by the U.S.

" Adding to the uncertainty, the US has imposed tariffs on imports of one-kilo and 100-oun...