Commodities

Gold futures surge to fresh high of Rs 23,210/10 gm

PTI New Delhi | Updated on April 28, 2011 Published on April 28, 2011

Gold futures prices rose by 0.82 per cent to a record Rs 23,210 per 10 grams today as speculators enlarged positions driven by a firming global trend on weakening dollar.

At the Multi Commodity Exchange, gold for delivery in December advanced by Rs 189 or 0.82 per cent to a fresh high of Rs 23,210 per 10 grams, with a business turnover of two lots.

Similarly, the metal for delivery in October shot up by Rs 131 or 0.52 per cent to Rs 22,882 per 10 grams, with a business volume of six lots.

The yellow metal for delivery in June gained Rs 95 or 0.44 per cent to Rs 22,234 per 10 gram, with an open interest of 2,776 lots.

Market analysts said a firming trend overseas, where gold climbed to new high supported by a weakened dollar after the US Federal Reserve decided to keep short-term interest rates at zero level, boosted the demand for the precious metal.

Meanwhile, gold rallied to an all-time high of $1,531.40 an ounce in New York.

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Published on April 28, 2011
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