Golden Investment Research Private Limited
Gold prices rise by 0.37%
Date : 06.02.2012
Gold prices rose on Monday as Asian buyers rushed to snatch bargains after better-than-expected U.S. jobs data. Moreover, the uncertain global economic outlook remains supportive of bullion. Gold futures for February 2012 contract, at MCX, were trading at Rs. 27,993 per 10 grams, up by 0.37% after opening at Rs. 27,990 against the previous closing price of Rs. 27,891. It touched the intra-day high of Rs. 28,030 till the trading.
Last week, prices rose as new claims for unemployment benefits in the United States fell more than expected last week. Initial unemployment claims decreased by 12,000 to 367,000 in the week ended Jan. 28, the Labor Department said
At the Commodity Exchange (COMEX), gold future for April 2012 delivery traded at US$1,736.7 per ounce, down by 0.20% on strong jobs data. It opened at US$1,731 against the previous closing price of US$1,740.3. It touched the intra-day low of US$1,729.2.
Some of the worlds gold markets are OTC markets at London (LBMA), New York and Zurich, Gold derivative exchanges at New York; CME (COMEX), Tokyo (TOCOM) and Mumbai (MCX) while Istanbul, Dubai, Hong Kong and Singapore are doorways to important consuming regions.
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