Gold advances on MCX amid EU Summit uncertainties

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Published: Tuesday, June 26, 2012, 15:14 [IST]
 
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Gold advances on MCX amid EU Summit uncertainties

Gold futures advanced on the Multi Commodity Exchange amid EU summit uncertainties as investors were skeptical about the outcome of the EU Summit, which is to be held later this week.

Domestically, gold of 99.9 and 99.5% purity was seen at Rs 30,600 and Rs 30,400 per 10 grams, respectively.

However, the demand for physical gold has fallen due to off season and as gold prices have touched a record low due to the falling rupee.

Gold for August contract delivery on Multi Commodity Exchange (MCX) opened at Rs 30,110 per 10 grams and was trading at Rs 30,159 per 10 grams. Gold for October contract was trading at the level of Rs 30,455 today.

MCX silver futures edged lower by Rs 52 per kg, silver for July delivery was seen trading at Rs 53,608 per kgs.

Spot gold on MCX was trading lower at Rs 30,0051 per 10 grams.

International spot gold was seen at US$ 1,583 an ounce. Globally, investors are concerned and doubtful about the EU Summit that it may fail to boost the eurozone debt turmoil.

GoodReturns.in

Topics: gold, silver, futures, mcx
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