Gold futures hit record Rs21,227 per 10 gm
08 Apr 2011
Gold futures surged to a record Rs21,227 per 10 gm on the Multi Commodity Exchange of India (MCX) today, helped by record rise in global prices. The spike in gold prices was aided by a strong euro and a declining dollar.
On MCX, the June contract rose Rs50 to Rs21,222 per 10 gm. The turnover stood at 10 lots. The August contract gained Rs49 at Rs21,520 per 10 gm.
Commodity markets across the world showed a buoyant trend on concerns over financial turmoil in Europe and continued fighting in Libya.
Gold prices zoomed to a record high of $1465.95 a tola in spot trading in Asia today helped by a strong euro and expectations of a further decline in dollar value.
US gold futures for June hit $1.467.70 an ounce, another record high, as the dollar weakened against the euro.
Silver hit a 31-year high after holdings with the exchange-traded fund (ETF) jumped to an all-time high as investors turned attention to precious metals in the wake of a decline in dollar value after the European Central Bank announced its first rate hike since 2008.
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