Gold breaches Rs 33,000 in futures trade

Updated: Monday, September 10, 2012, 16:40 [IST]

Gold futures continued its bull rally on Monday, by touching a fresh peak of Rs 33,170 per 10 grams tracking firm global cues.

Gold futures for October 2012 contract, was seen trading higher by 0.21% at Rs 31,962 per 10 grams on MCX.

Gold futures for April 2013 contract, surged higher by 0.18% to Rs 33,092 per 10 grams. It touched an intra-day high of Rs 33,170 per 10 grams.

International gold surged towards a 6-1/2-month high, while spot gold was seen trading at $ 1,734 an ounce. Gold sentiment was boosted after weak U.S. Job data, re-kindled hopes of fresh stimulus in the US from the Federal Reserve.

Delhi spot gold of 99.9% and 99.5% purity was seen at Rs 32,300 and Rs 32,100 per 10 grams, respectively.

MCX silver futures was higher by Rs 364 per kg, and was trading at Rs 64,254 per kg.

However, gold demand in India will remain subdued as investors shy away from the precious metal ahead of the festive season on hopes of prices coming down.

GoodReturns.in