Gold futures touch new high of Rs 32,400 on global cues
Buoyed by a firming global trend, gold prices surpassed all previous records to trade at fresh record high of Rs 32,400 per 10 gram in futures trade today.
September 10, 2012 / 15:44 IST
Buoyed by a firming global trend, gold prices surpassed all previous records to trade at fresh record high of Rs 32,400 per 10 gram in futures trade today.
A firming trend in the spot market supported by upcoming wedding and festive season demand also helped gold to touch new highs in futures trade here.At the Multi Commodity Exchange, gold for delivery in December shot up by Rs 125, or 0.36%, to trade at an all-time high of Rs 32,400 per 10 gram, with a turnover of 176 lots.Similarly, gold for October delivery gained Rs 119, or 0.37%, to trade at Rs 32,015 per 10 grams, with a business volume of 1,682 lots.In the domestic spot market on Saturday, gold gained Rs 540 to close at an all-time high of Rs 32,450 per 10 grams in the national capital.Marketmen said rally in gold futures was mostly driven by a firming trend overseas on speculation central banks from the US to China will increase stimulus as economic data disappoints, raising demand for the precious metal.Meanwhile, gold gained 0.30% to USD 1,740.05 an ounce in Singapore, almost six-month high level. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
