Thursday, August 23, 2012

MCX Gold Boomed, Tocuhed Record High

Buoyed by a firm trend in the overseas markets, gold futures prices today climbed to all-time high of Rs 31,029 per 10 grams as speculators indulged in enlarging positions.
Rising spot demand in domestic markets for the wedding season also pushed gold futures to trade at record high, traders said.

At the Multi Commodity Exchange, gold for delivery in December rose by Rs 352, or 1.23 per cent, to new record of Rs 31,029 per 10 grams, with a business turnover of 209 lots.

Similarly, gold prices for delivery in October gained Rs 382, or 1.30 per cent, to trade Rs 30,699 per 10 grams, with a trade turnover of 3,149 lots.

Marketmen said sentiment at futures trade here bolstered after gold rose to 16-week high overseas as dollar weakened amid speculation central banks in the US and China may ease monetary policy to boost their economies, raising demand for the precious metal.

In Singapore, gold prices rose by 1.2% to trade at almost four-month high of USD 1,662.70 an ounce.

67 comments:

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Marauding bulls lifted the Sensex within kissing distance of a record high on Thursday, amid record trading volumes. Both the Sensex and Nifty ended at new closing highs, led by a rally in bank shares.
The Sensex closed at 21164.52, up 130.55 points over its previous close, and just 54 points away from making a new peak. The Nifty gained 47.45 points to close at 6299.55.


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Deepika Singh said...

Gold traded above a 10-week low as improvements in the U.S. economy were weighed against tension in Ukraine and signs of higher demand in China. Assets in the largest exchange-traded product held at the lowest in 12 weeks.

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The Nifty gains 30.75 points at 8899.85 and The Sensex is up 117.23 points at 29437.49.
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