Gold prices rise by 0.10%

Posted By: Religare
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Gold prices rise by 0.10%
Gold prices rose on Thursday on concerns about the euro zone debt crisis ahead of Spain's bond auction and a European Central Bank meeting, as robust buying from China and India also supported sentiment.

Gold futures for February 2012 contract, at MCX, were trading at Rs. 27,685 per 10 grams, up by 0.10% after opening at Rs. 27,689 against the previous closing price of Rs. 27,657. It touched the intra-day high of Rs. 27,701 till the trading. (At 10.55 AM today).

At the Commodity Exchange (COMEX), gold future for February 2012 delivery traded at US$1,644.9 per ounce, up by 0.32%. It opened at US$1,643.5 against the previous closing price of US$1,639.6. It touched the intra-day high of US$1,645.2. (At 11.05am 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

Read more about: gold, futures, euro zone, mcx
Story first published: Thursday, January 12, 2012, 13:30 [IST]
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