Gold futures rises by 0.35%

Posted By: Religare
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Gold futures rises by 0.35%
Gold prices rose on Tuesday, after soaring more than 2 percent in the previous session, supported by safe haven demand as Italy took center stage in the euro zone debt crisis. Gold futures for December 2011 contract, at MCX, was trading at Rs. 28,521 per 10 grams, up by 0.35% after opening at Rs. 28,490 against the previous closing price of Rs. 28,422. It touched the intra-day high of Rs. 28,549 till the trading. (At 10.13 AM today).

At the Commodity Exchange (COMEX), gold future for December 2011 delivery traded at US$1,794 per ounce, up by 0.16%, after opening at US$1,795.8 against the previous closing price of US$1,791.1. It touched the intra-day high of US$1,796.4 with a business volume of 359 lots till the electronic trading. (At 11.14 AM CT).

Some of the worlds gold markets are OTC markets at London (LBMA), New York and Zurich, Gold derivative exchanges at New York - CME (COMEX), Tokyo (TOCOM) and Mumbai (MCX) while Istanbul, Dubai, Hong Kong and Singapore are doorways to important consuming regions.

Gold is the oldest precious metal known to man and for thousands of years it has been valued as a global currency, a commodity, an investment and simply an object of beauty.

Dion Global Solutions Ltd

Read more about: gold, mcx, futures, euro zone
Story first published: Tuesday, November 8, 2011, 13:30 [IST]
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