Gold futures touch new high of Rs 24,175 on global cues
Riding high on firming trend overseas, gold futures prices hit yet another record of Rs 24,175 per 10 grams today.business Updated: Jul 25, 2011 15:00 IST
Riding high on firming trend overseas, gold futures prices hit yet another record of Rs 24,175 per 10 grams on Monday.
In addition, strong demand at the domestic spot markets on the back of marriage season demand helped the yellow metal to scale new high at futures trade here.
At the Multi Commodity Exchange, gold for delivery in February next year, climbed Rs 175, or 0.74 %, to record of Rs 24,175 per 10 grams, with a business turnover of three lots.
Similarly, the metal for delivery in December gained Rs 168, or 0.73 %, to Rs 23,874 per 10 grams, with an open interest of 51 lots.
The metal for delivery in August also gained Rs 184, or 0.76 %, to Rs 23,283 per 10 grams, with a trade turnover of 3,015 lots.
Analysts said firming trend overseas, where the metal soared to all-time-high as concerns that measures announced by European officials would not be sufficient to contain the region's sovereign debt crisis, spurred demand for gold, helping it to touch record high at futures trade in New Delhi.
Meanwhile, gold rose by 0.86 % to $1,615 an ounce in Asian region. It had touched an all-time high of $1,624.30 an ounce in the US market in the previous session.