Gold extend gains over eurozone worries

Business

oi-Monika Nihalani

By Monika Nihalani

Published: Tuesday, August 16, 2011, 16:54 [IST]

Germany released the data for its gross domestic product in the second quarter, showing that economic growth in Europe"s largest economy slowed to a near stand-still. The sharp slowdown in activity in Europe"s largest economy hit overall eurozone growth and intensified fears about the global slowdown.

Gold picked up after the news over investors concerns.

At the Multi Commodity Exchange, Gold for delivery in far-month February opened high at Rs 26,605 per 10 grams and made intra-day high of Rs 26,851 per 10 grams.

Gold for October delivery on MCX opened at Rs 25,729 per 10 grams and was trading between Rs 26,135 – Rs 26,152 per 10 grams around 4:45 p.m. IST. It made an intra-day high of Rs 26,199 per 10 grams during the day.

Gold for immediate delivery was seen trading at Rs 25,935 per 10 grams.

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