Gold at all-time high in futures on firm spot market trend | business | Hindustan Times
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Gold at all-time high in futures on firm spot market trend

Gold prices spurted to set a new record high level of Rs 19,363 per ten gram in futures trading today, as speculators continued to enlarge their positions, driven by pick up in demand in the spot market.

business Updated: Sep 16, 2010 15:13 IST

Gold prices spurted to set a new record high level of Rs 19,363 per ten gram in futures trading today, as speculators continued to enlarge their positions, driven by pick up in demand in the spot market.

With the general firming trend in other precious metals across the globe and in domestic markets, the gold prices remained at record setting spree.

At the Multi Commodity Exchange counter, gold for February delivery rose Rs 38, or 0.20 per cent, to Rs 19,363 per ten gram, a level never seen ever before. The contract recorded a business volume of 932 lots.

Similarly, the metal for delivery in October-month gained Rs 28, or 0.15 per cent, to Rs 19,167 per ten gram, with an open interest of 16,026 lots.

Marketmen said positions enlarged by speculators on pick up in demand in the spot market following festive season, pushed up the gold prices at futures trade.

They said other precious metal-silver, set the record high levels in global and domestic market, and was another supporting factor for the metal.