Gold futures extend rally on Iraq fears
16/06/2014 11:35
Gold futures surged in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as a rise in violence in Iraq boosted the safe haven demand for the bullion.
While tensions between Ukraine and Russia have intensified after pro-Russian militants shot down a transport plane in the eastern part of Ukraine, Iraq remains a huge worry where the army is battling an insurgency from Islamist militants.
Gold futures for August 2014 contract, at MCX, is trading at Rs. 26,920 per 10 grams, up by 1.10 per cent, after opening at Rs. 26,650, against the previous closing price of Rs 26,627. It touched an intra-day high of Rs 26,960. (At 11:17 AM).
16/06/2014 11:35
Gold futures surged in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as a rise in violence in Iraq boosted the safe haven demand for the bullion.
While tensions between Ukraine and Russia have intensified after pro-Russian militants shot down a transport plane in the eastern part of Ukraine, Iraq remains a huge worry where the army is battling an insurgency from Islamist militants.
Gold futures for August 2014 contract, at MCX, is trading at Rs. 26,920 per 10 grams, up by 1.10 per cent, after opening at Rs. 26,650, against the previous closing price of Rs 26,627. It touched an intra-day high of Rs 26,960. (At 11:17 AM).
