Gold futures hit new high at Rs 15,712

February 19, 2009

Commodity Online
NEW DELHI : India gold futures continued their upward journey for a straight third day Thursday, scaled to a new high at Rs 15,712 per ten gram on the MCX here.

June contract on the Multi Commodity Exchange soared by 0.88 percent or by Rs 138 to the new record high mainly on continued buying on speculations that the global recession will deepen further.

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The contract clocked business volume of 268 lots (one lot is equal to one kg) in early trade. Gold for April month contract rose by Rs 145, or 0.93 per cent to Rs 15,706 per 10 gram, clocking a business turnover of 4,665 lots.

Analysts said, firming trends in spot markets on account of marriage season also influenced metal prices at futures market here.

On Wednesday, gold touched a high of $988.40 an ounce in global markets

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