Gold gains all-time high of Rs 38,470 on rising demand, firm global trends

Topics Gold  | Gold Prices | Gold rises

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Gold prices rose by Rs 229 to Rs 38,221 per 10 gram in futures trade on Monday driven by high demand at physical markets and firm global trends.

On the Multi Commodity Exchange (MCX), the most-traded October contract of the metal rose by Rs 229, or 0.6 per cent, to Rs 38,221 per 10 gram in a business turnover of 1,150 lots.

The yellow metal for delivery in December also rose by Rs 273, or 0.71 per cent, to Rs 38,850 per 10 gram in a business turnover of 33 lots.

Silver prices were also trading up on the bourse. The white metal to be delivered in September was trading up by Rs 115, or 0.27 per cent, to Rs 43,439 per kg in 1,499 lots.

Market analysts said the precious metal advanced in physical markets which supported the futures prices. Gold in the National Capital rose by Rs 50 to regain the all-time high level of Rs 38,470 per 10 grams.

Globally, gold and silver were trading a shade higher at $1,517.30 and $16.96 an ounce, respectively, in New York amid trade tensions.

The trading on MCX platform was closed in the first half of Monday on account of Bakri Id and the operations resumed in the second half of the day, an MCX spokesperson said.

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