Monday, 13 October 2014
Live Mcx Bullion Tips; Gold climbs as global growth
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Gold prices jumped sharply in Asia on Monday as worries over the global economic outlook sent investors scuttling towards safe-haven bullion amid a sell-off in equities and the dollar. Spot gold rose to a high of $1,234.80 an ounce before paring some gains to trade up 0.8 per cent at $1,233.15 at 0256 GMT. US gold futures jumped to $1,235.70, their highest since Sept. 23. Silver, platinum and palladium also gained.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,230.30 a troy ounce, up 0.41%, after hitting an overnight session low of $1,217.70 and off a high of $1,225.80.
Silver prices dropped sharply, snapping a three-session rising trend at the domestic bullion market today on a fresh bout of speculative selling amid lack of industrial buying support. Silver (.999 fineness) slumped by Rs 355 to finish at Rs 39,260 per kg as compared to Thursday's level of Rs 39,615.