BL: Gold futures at record high levels on global cues
NEW DELHI: Gold prices surged to set a new peak level of Rs 19,285 per ten grams at the futures market on Wednesday, as speculators indulged in frantic buying in line with a firming global trend.
At the Multi Commodity Exchange counter, December contract traded higher by Rs 37 or 0.19 per cent to Rs 19,321 per ten grams, a level never seen before. The contract clocked a business volume of 7,398 lots.
Similarly, October contract gained Rs 90 or 0.47 per cent to Rs 19,285 per ten gram, with a business volume of 16,762 lots.
Marketmen said increased buying by speculators in tandem with firming global trend mainly led to a rise in gold prices at the futures trade here. In the global markets, gold rose $28 to $1,275.70 an ounce on Tuesday.
They said expectations of a rise in demand in spot markets for the ongoing festival and coming marriage season also supported the uptrend. — PTI
