Zee Media Bureau/Ajeet Kumar
Gold prices started the day at below Rs 27,000 level but finally ended higher by Rs 785 to Rs to Rs 27,611 per ten grams in futures trade Thursday as market participants enlarged their positions in tandem with a firmimg trend overseas.
At the Multi Commodity Exchange (MCX), gold for delivery in August climbed by Rs 785 to close at Rs 27,611 per ten grams after moving in range of Rs 26,800- Rs 27,653.
Gold in overseas markets, which normally set price trend on the domestic front, surged over 3 percent for its best day in 9 months as the Federal Reserve's lack of commitment to raise interest rates and continued tensions in the Middle East unleashed a wave of short covering.
Spot gold last quoted up 3 percent at USD 1,315.90 an ounce, having earlier hit USD 1,321.70, a two-month high.
US gold futures for August delivery ended at USD 1,314.10 an ounce, up USD 41.40.
Meanwhile, gold prices fell by Rs 30 to Rs 28,020 per ten gram at Delhi bullion market owing to slackened demand from jewellers even as the metal edged up in global markets.
However, silver continued its rising trend on sustained buying by coin makers and rose further by Rs 200 to Rs 43,100 per kg.
