Gold continues to charge up
MARKET REVIEW: INTERNATIONAL / BULLION
| Gold for August delivery settled at $ 437.90 a troy ounce on the COMEX division of the New York Mercantile Exchange, from $429.30 a troy ounce last week up 1.6 per cent. The spot London gold fix too closed around the same range at $437.50 (PM) from $422.55 (PM). |
| In the local market, during the week ended June 17, while gold and silver stayed high. Spot gold (99.50 purity) in Mumbai closed at Rs 6,220 per 10 gm the from Rs 6,065 last week. |
| Spot gold (99.90 purity) closed at Rs 6,250 from Rs 6,100 the previous week. Spot silver (.999) closed higher at Rs 11,035 from last week's Rs 10,855 per kg. |
| Futures trading in gold and silver both picked up during the week following international trends, with better volumes. On the National Commodity Derivatives Exchange, June gold contract closed at Rs 6,232 from Rs 6115.00 with an open interest and volume of 283,500 gm and 202,800 gm, respectively. |
| Silver contract in June closed at Rs 10,895 from Rs 10,701 last week, with open interest of 89,660 and a volume of 29,450. The July contract closed at Rs 10,710 from Rs 10,927 with an open interest of 88,800 gm and a volume of 9,900. |
| On the Multi Commodity Exchange of India the August contract closed at Rs 6,241 from Rs 6,121 with open interest of 5,004 kg and a volume of 2,320 kg. |
| The October contract closed at Rs 6,265 compared with Rs 6,140 with an open interest of 427 kg. The July Gold HNI (High Net Worth Individuals) contract closed at Rs 6,130 from Friday's 5,958, with an open interest of 6 kg. |
| HNI Silver June closed at Rs 10,365 from Rs 10,164 last week, with an open interest of 6,700 kg and a volume of 200 kg. The July 5 silver contract rose to close at Rs 10,860 from Rs 10,694 last week. |
| The open positions stood at 335,490 kg and the volume of contract was 106,440 kg. The September contract of silver closed at Rs 10,898 up from Rs 10,751 last week with an open interest of 77,400 kg and a volume of 12,420 kg. |