Precious metals shined in the intra day trades on Monday even after a pressure was seen in the prices of major industrial metals. The safe haven appeal for Gold remained intact with fresh buying positions initiated even after the metal has crossed 17000 mark in domestic markets.
Meanwhile, Comex Gold for June delivery tested 5-month highs. The most active gold contract for June delivery rose $ 2.6, or 0.2 percent, to finish at $ 1183.3 per ounce.
MCX Gold contract for June expiry closed at Rs 17186 per 10 grams, up Rs 61. This marked the thirteenth straight day for rise in Gold. The prices have moved up from Rs 16609 per 10 grams on 17 April 2010, a rise of 3.4%.
EU and IMF agreed over weekend on a 110-billion-euro emergency loan in exchange for budget cuts to help Greece avoid defaulting on its debt, after Greece's debt rating was cut to junk status and its borrowing cost ballooned last week.
