Gold futures hits record Rs 32,758 per 10 grams
The gold prices reached a record high of Rs 32,758 per 10 grams in futures trade today due to a largely speculative market position on the shiny metal.
More indications of stability and the upcoming marriage and festival seasons also helped prices reach record high in future trading. The commodity for delivery in December rose 0.48 per cent and was trading at Rs 32,030 per 10 grams with a volume of 287 lots. Gold for October delivery also increased by 0.60 per cent and was trading at a record high of Rs 31,649 per 10 gm and with a volume of 11,951 lots.
Gold for delivery in April next year rose 0.45 per cent to its highest ever level of Rs 32,758 per 10 grams at the Multi Commodity Exchange. In the national capital Delhi, the gold prices rose by Rs 130 to a high of Rs 31,980 per 10 gm
Experts say that the rise in the price of golf futures is mainly due to the speculative position taken by the investors and firmining up trends in the overseas market. It is also believed that the upcoming marriage as well as festival season in India has helped increase the price of gold.