Millennium Post

Gold futures touch new high of Rs 32,400 on global cues

Buoyed by a firming global trend, gold prices surpassed all previous records to trade at fresh record high of Rs 32,400 per 10 gram in futures trade on Monday.

A firming trend in the spot market supported by upcoming wedding and festive season demand also helped gold to touch new highs in futures trade here.

At the Multi Commodity Exchange, gold for delivery in December shot up by Rs 125, or 0.36 per cent, to trade at an all-time high of Rs 32,400 per 10 gram, with a turnover of 176 lots.

Similarly, gold for October delivery gained Rs 119, or 0.37 per cent, to trade at Rs 32,015 per 10 grams, with a business volume of 1,682 lots. In the domestic spot market on Saturday, gold gained Rs 540 to close at an all-time high of Rs 32,450 per 10 grams in the national capital.

Marketmen said rally in gold futures was mostly driven by a firming trend overseas on speculation central banks will increase stimulus packages.
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