Gold futures prices in Multi Commodity Exchange august 18 2011

Gold futures prices in Multi Commodity Exchange august 18 2011 : Buoyed by a firming global trend, gold prices shot up by another Rs 175 to hit a new high of Rs 26,960 per ten grams in futures trade today. All the running contracts -- for October, December and far-month February delivery -- were trading at record highs.

At the Multi Commodity Exchange, gold for delivery in far-month February shot up by another Rs 175, or 0.65 per cent, to Rs 26,960 per ten grams, with a turnover of 11 lots. In a similar fashion, the metal for delivery in October rose by Rs 163, or 0.36 per cent, to trade at record high of Rs 26,557 per ten grams, with a turnover of 4,347 lots.

Similarly, gold for delivery in December spurted by Rs 225, or 0.47 per cent, to trade at a record high of Rs 26,720 per ten grams, clocking a turnover of 418 lots.

Market analysts attributed the rise in gold futures prices to enlarging of positions by speculators, in tandem with a firming trend overseas as fears of a global slowdown spurred demand for the precious metal as an alternative investment. Meanwhile, spot gold prices climbed by USD 3.70 to USD 1,792.70 an ounce in the Asian region today. For the latest updates PRESS CTR + D or visit Stock Market news Today

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