Gold price at Rs 31,000, hikes at Rs 600 per 10 grams
Author yuvamind
New Delhi: Gold prices encroached the Rs 31,000 per 10 grams by enhancing over Rs 600 in coming trade on Thursday as bookmaker raised their condition after the precious metal hiked above USD 1,300 an ounce in the world markets.
In futures trading at the Multi Commodity Exchange gold for delivery in August last quoted higher by Rs 615 or 2.02 percent to Rs 31,059 per 10 grams.
Analysts said rally in gold prices in the world market, where it again went past USD 1,300 after the Federal Reserve scaled back the outlook for interest-rate grow and Fed Chair Janet Yellen signaled rates may stay lower for longer, raised appeal of the yellow metal, influenced gold futures here.