Zee Media Bureau
Gold prices reclaimed the Rs 25,000 per 10 gram mark by rising 0.85 percent to Rs 25,158 in futures trading Monday as speculators widened positions, tracking a firm global trend.
Furthermore, a firming trend at domestic spot markets following pick up in demand from jewellers helped gold to trade above Rs 25,000 level.
At the Multi Commodity Exchange (MCX), gold for delivery in far-month October surged by Rs 213, or 0.85 per cent, to Rs 25,158 per ten grams in business turnover of 1,641 lots.
On similar lines, the yellow metal for delivery in August traded higher by Rs 171, or 0.69 per cent, to Rs 24,902 per 10 grams in 10,320 lots.
Analysts said a firming trend in the global markets as the dollar weakened, raising appeal of the precious metal, supported the upside in gold prices at futures trade here.
On the global front, the shiny-metal fell back after a brief climb above the key USD 1,100 mark to trade marginally lower despite softening dollar and carnage in equities worldwide.
Spot gold was substantially down at USD 1,089.80 an ounce in early European trade and silver was quoted weak at USD 14.55 an ounce.
Meanwhile, gold rose for the second day by adding Rs 90 to trade at Rs 25,490 per ten grams at Delhi bullion market today in tandem with a firming global trend amid increased buying by jewellers.
Silver followed suit and advanced by Rs 150 to Rs 34,200 per kg on increased offtake by industrial units and coin makers.
At Mumbai bullion market, standard gold (99.5 purity) fell by Rs 70 to end at Rs 24,925 per 10 gm from last Saturday's closing level of Rs 24,995.
Pure gold (99.9 purity) also shed by a similar margin to settle at Rs 25,075 per 10 grams compared to Rs 25,145.
Silver (.999 fineness) eased by Rs 50 to finish at Rs 34,470 per kg as against Rs 34,520 last weekend.
With Agency Inputs
