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Gold steady in today's trade


Gold steady in today's trade
Fed's decision to keep low interest rates till mid-2013, diverted minds of many investors towards equities again. Gold rally was steady in today's trade.

At the Multi Commodity Exchange, Gold for delivery in far-month February fell considerably, it opened at Rs 26,706 per 10 grams which was the intra-day high itself. And, was trading in the range of Rs 26,635 – Rs 26,683 per 10 grams during the day.

Gold for October delivery on MCX opened at Rs 25,788 per 10 grams and was trading between Rs 25,500 – Rs 25,827 per 10 grams around 2:00 p.m. IST. It made an intra-day high of Rs 25,890 per 10 grams during the day.

Gold for immediate delivery was seen trading at Rs 25,607 per 10 grams.

Experts feel that gold will continue to shine going forward and will still remain investors" favourite. If the other markets settle down, then price of gold might get corrected but if the turmoil continues, then gold may go up to Rs 27,000.

Read more about: gold economy mcx
Story first published: Wednesday, August 10, 2011, 14:09 [IST]
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