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Gold soars ahead of Dhanteras


Gold soars ahead of Dhanteras
Gold rose ahead of Dhanteras, gold futures for December 2012 contract, at MCX, were trading at Rs 31,640 per 10 grams, up by 0.05% at 2.20 pm IST, after opening at Rs 31,601 per 10 grams.

Gold futures for Februvary 2013 contract, at MCX, were trading at Rs 32,051 per 10 grams, up by 0.06%.


Dealers have been building stock of gold ahead of the Diwali and Dhanteras as they expect demand to go up further as and when India's big festivals coming closer, said a dealer.

In early November, gold prices hit a two-month low weighed down by the US jobs data. However, gold recovered after Obama re-election.

According to PTI reports, gold is expected to rise further by 20% to touch Rs 32,500 per 10 gram here on 'Dhanteras', as Indians consider the day as auspicious to buy gold.

Mumbai spot gold of 99.9% purity was seen at Rs 31,975 per 10 grams and gold of 99.5% was seen at Rs 32,120 per 10 grams.

Read more about: gold mcx futures
Story first published: Saturday, November 10, 2012, 14:42 [IST]
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