Gold glitters; prices rise above Rs 30,000

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
    Gold glitters; prices rise above Rs 30,000
    Gold prices recovered after a fall and breached the Rs 30,000 mark tracking strong global cues.

    International gold held near 3-week high after Cyprus rejected a proposal to tax bank account holders. This move has increased worries of a payment default by the euro zone nations, forcing investors to find safe haven in yellow metal.

    International gold was seen trading at $1,614 an ounce.

    Gold futures at the Multi Commodity Exchange were trading lower on reports that Indian gold funds are shrinking for the first time since June as investors are pulling money from the asset backed by precious metals.

    Exchange-traded funds in gold saw outflows of Rs 8 crore ($1.5 million).

    Gold futures for April contract were trading at Rs 29,770 per 10 grams lower by Rs 101 or 0.34% at 2.15 pm IST.

    Delhi spot gold of 99.9% purity was seen higher at Rs 30,370 per 10 grams and gold of 99.5% was seen at Rs 30,170 per 10 grams.

    GoodReturns.in

    Read more about: gold
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more