Gold futures regain 30k level on strong global cues

Image
Press Trust of India New Delhi
Last Updated : Feb 17 2014 | 5:02 PM IST
Gold extended initial gains and regained the psychological level of Rs 30,000 per ten gram in the national capital today as speculators engaged in enlarging positions, driven by a firming global trend.
At the Multi Commodity Exchange, gold for delivery in April contracts shot up by Rs 635, or 2.16 per cent to Rs 30,010 per ten gram in business turnover of 14,908 lots.
Likewise, the metal for delivery in June climbed Rs 560, or 1.93 per cent to Rs 29,565 per 10 grams in 1,296 lots.
Market analysts attributed surge in gold futures to a firm global trend as speculation the US economic recovery will slow, spurring demand for a haven.
Meanwhile, gold rose 0.4 per cent to USD 1,324.51 an ounce, after touching USD 1,330.03, the highest since October 31 in London.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Feb 17 2014 | 5:02 PM IST

Next Story