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Gold price regains Rs 30,000 level in futures trade

Last Updated: Thursday, October 3, 2013 - 13:41

Zee Media Bureau/Ajeet Kumar

New Delhi: Recovering from their last closing level, gold prices reclaimed Rs 30,000 level by gaining Rs 481 to Rs 30,009 per ten grams in futures trade Thursday as speculators enlarged their positions in tandem with a firming trend overseas.

However, appreciation in rupee against dollar limited the uptrend. The rupee rose by 65 paise to 61.81 today at the Interbank Foreign Exchange as the dollar weakened against other major overseas currencies.

At the Multi Commodity Exchange (MCX), gold for delivery in October gained by Rs 481 to Rs 30,009 per ten grams.

Similarly, silver for delivery in December rose by Rs 708 to Rs 48,610 per Kg.

Gold price in overseas markets, which normally set price trend on the domestic front, zoomed more than 2 percent as weak US economic data and a partial government shutdown raised hopes the Federal Reserve would stick to its bullion-friendly stimulus for longer.

Spot gold last quoted at USD 1,316.41 an ounce, up 2.4 percent, rebounding some USD 40 from a two-month low at USD 1,278.24 earlier in the session.

In New York, gold for December delivery spurted by USD 34.60 to settle at USD 1,320.70 an ounce on the Comex division of the NYMEX.

First Published: Thursday, October 3, 2013 - 13:39
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