Gold futures for February 2012 contract, at MCX, was trading at Rs. 27,941 per 10 grams, down by 0.86% after opening at Rs. 28,060 against the previous closing price of Rs. 28,183.
It touched the intra-day low of Rs. 27,906 till the trading. (At 10.16 AM today).
At the Commodity Exchange (COMEX), Gold future for February 2012 delivery traded at US$1,575.1 per ounce, down by 0.74%. It opened at US$1,580 against the previous closing price of US$1,586.9. It touched the intra-day low of US$1,571.5. (At 10.25 am IST).
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.
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.
Dion Global Solutions Ltd