Gold Towards new Record High
Wednesday, September 8, 2010
Gold towards new record High
India gold futures may extend gains at the open on Wednesday and hit record high later in the day supported by strong overseas leads, analysts said.
The most-active October gold contract on MCX last closed at 19,169 rupees per 10 grams, up 0.7 percent, after hitting a record high of 19,211 rupees in the previous session.
Gold overseas was within sight of a two-month high hit the previous day, as global sharemarkets tumbled and the euro slipped on renewed fears about the health of the global economy.
Buy gold around 19,130, targeting 19,250, maintaining a stop loss of 19,080.
India gold futures may extend gains at the open on Wednesday and hit record high later in the day supported by strong overseas leads, analysts said.
The most-active October gold contract on MCX last closed at 19,169 rupees per 10 grams, up 0.7 percent, after hitting a record high of 19,211 rupees in the previous session.
Gold overseas was within sight of a two-month high hit the previous day, as global sharemarkets tumbled and the euro slipped on renewed fears about the health of the global economy.
Buy gold around 19,130, targeting 19,250, maintaining a stop loss of 19,080.
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