Gold surges to Rs 20,938/10 gms

Gold prices rose by Rs 30 to Rs 20,938 per 10 grams in futures trade.

March 23, 2011 13:05 IST

Gold prices rose by Rs 30 to Rs 20,938 per 10 grams in futures trade as speculators enlarged their positions on the back of a firm global trend.

At the Multi Commodity Exchange, gold for delivery in April rose by Rs 30, or 0.14 per cent, to Rs 20,938 per 10 grams, with a business turnover of 18 lots.

Likewise, the metal for delivery in June moved up by Rs 28, or 0.13 per cent, to Rs 21,210 per 10 grams, with an open interest of a single lot.

Market analysts attributed the rise in gold futures prices to creation of fresh positions by speculators amid a firming trend in New York.

Meanwhile, gold rose by USD 1.70 to USD 1,428.80 an ounce in New York.

This article was first uploaded on March twenty-three, twenty eleven, at five minutes past one in the afternoon.