Gold price extends gains, up Rs 200 per 10 grams

Zee Media Bureau

New Delhi: Gold extended its gains in future trading Monday as participants enlarged their positions after aftershocks from Britain`s vote to leave the European Union pushed investors towards the safe-haven asset.

At the Multi Commodity Exchange (MCX), gold for delivery in August last quoted up by Rs 261 or 0.81 percent at Rs 31,662 per 10 grams.

At Delhi bullion market, gold prices recovered by Rs 150 to Rs 30,550 per 10 grams. However, silver fell Rs 290 to Rs 42,100 per kg due to lower offtake from industrial units and coin makers.

At Chennai spot market, gold price opened at Rs 31,800 per 10 grams. At Kolkata it last quoted at Rs 31,555 per 10 grams.

Globally, Spot gold had risen 1.30 percent to USD 1,332.55 an ounce, after touching a high of USD 1,335.30 earlier in the day.

Bullion prices surged by 4.8 percent in the previous session to top out at USD 1,358.20 - the highest since March 2014.

US gold rose 1 percent on Monday to USD 1,336.90 an ounce.