Commodities

Gold futures hits record high of Rs 22,815/10 gm

PTI New Delhi | Updated on April 25, 2011 Published on April 25, 2011

Antique design gold jewellery at an outlet. S. Siva Saravanan (file photo)   -  The Hindu

Riding high on a firming global trend, gold zoomed past all the previous records and climbed 1.75 per cent to trade at Rs 22,815 per 10 grams at the futures trade today.

A firming trend at the domestic market also supported the upside in the yellow metal’s prices at the futures trade.

At the Multi Commodity Exchange, gold for delivery in August surged by Rs 398 or 1.75 per cent to trade at a record high of Rs 22,815 per kg clocking a business turnover of 382 lots.

Likewise, the metal for delivery in June advanced by Rs 44 or 0.2 per cent to trade at an all-time high of Rs 22,164 per 10 gram with a trade turnover of 4,691 lots.

Analysts said the trading sentiment turned better on the back of a firming trend overseas, where the precious metal extended its record-breaking rally for the seventh consecutive session, buoyed by a weaker dollar and increasing tension in the Middle East and North Africa.

Meanwhile, the yellow metal gained 0.74 per cent to $1,515.90 an ounce, a new high in the Asian trade at Singapore.

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Published on April 25, 2011
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