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Gold, silver prices hit a new high on global cues
Precious metals futures prices continued to maintain rally in the domestic market due to following firm global cues. Gold for June contract advanced as much as 0.35% to Rs. 21,567.00 per 10 grams, while silver for May delivery increased 1.67% to Rs. 62,531.00 per kg on the Multi Commodity Exchange (MCX).
Gold future for June delivery on Friday climbed an all time high of $1,480.50 per ounce, while silver jumped to 31-year high of $42.460 per ounce on the Commodity Exchange (COMEX), supported by concern over rising inflation in China and European region. Euro-zone consumer prices increased 1.4% in March from the previous month and China’s inflation accelerated to 5.4% last month. Generally, investors prefer to invest in precious metals as a hedging tool during the high inflationary period.
Moreover, holdings in IShares Silver Trust increased to 10,974.26 tons on April 14, 2011 from 10,969.71 tons on April 13, 2011. The holdings touched a record of 11,242.89 tons on April 8, 2011.
At Multi Commodity Exchange (MCX), gold future for June contract is trading at Rs. 21,506.00 per 10 grams, up by 0.07%, after opening at Rs. 21,491.00 against the previous closing price of Rs. 21,491.00. It touched the intra-day high of Rs. 21,567.00 till the trading. (At 02:39 PM today).
Silver for May contract, at MCX, is trading at Rs. 61,909.00 per kg, up by 0.66%, after opening at Rs. 61,750.00 against the previous closing price of Rs. 61,504.00. It touched the intra-day high of Rs. 62,531.00 till the trading. (At 02:36 PM today).
Precious metals futures prices continued to maintain rally in the domestic market due to following firm global cues. Gold for June contract advanced as much as 0.35% to Rs. 21,567.00 per 10 grams, while silver for May delivery increased 1.67% to Rs. 62,531.00 per kg on the Multi Commodity Exchange (MCX).
Gold future for June delivery on Friday climbed an all time high of $1,480.50 per ounce, while silver jumped to 31-year high of $42.460 per ounce on the Commodity Exchange (COMEX), supported by concern over rising inflation in China and European region. Euro-zone consumer prices increased 1.4% in March from the previous month and China’s inflation accelerated to 5.4% last month. Generally, investors prefer to invest in precious metals as a hedging tool during the high inflationary period.
Moreover, holdings in IShares Silver Trust increased to 10,974.26 tons on April 14, 2011 from 10,969.71 tons on April 13, 2011. The holdings touched a record of 11,242.89 tons on April 8, 2011.
At Multi Commodity Exchange (MCX), gold future for June contract is trading at Rs. 21,506.00 per 10 grams, up by 0.07%, after opening at Rs. 21,491.00 against the previous closing price of Rs. 21,491.00. It touched the intra-day high of Rs. 21,567.00 till the trading. (At 02:39 PM today).
Silver for May contract, at MCX, is trading at Rs. 61,909.00 per kg, up by 0.66%, after opening at Rs. 61,750.00 against the previous closing price of Rs. 61,504.00. It touched the intra-day high of Rs. 62,531.00 till the trading. (At 02:36 PM today).
source : http://money.oneindia.in
