Commodity prices surge on euro worries

Commodities continued the price rally and increased by 0.8% on Tuesday as uncertainty shrouds over the European Union (EU) debt crisis combined with fears of a US default. HT reports.

Commodities continued the price rally and increased by 0.8% on Tuesday as uncertainty shrouds over the European Union (EU) debt crisis combined with fears of a US default.

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While gold prices dipped marginally by 0.02% at Rs 24,114 per 10 grams, silver continued to rise and was up 1.3% at Rs 63,468 per kilogram on the future trade market at the MCX.

"Indian investors are upbeat on commodities, especially gold and silver", said Hitesh Jain, commodity analyst, IIFL. Commodity futures saw an increase of 0.2% on Tuesday.