North Korea tensions: Gold hits highest in a year
Kochi: Gold prices went up by a whopping Rs 241 at Rs 30,064 per 10 grams in futures trade on Monday after speculators raised bets, tracking a firming global trend. In Kerala, gold traded at Rs 21,760, up Rs 200 per 8 gram. In five days, the price of gold was up Rs 640 in the local bullion market.
At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 241, or 0.81 per cent, to Rs 30,064 per 10 grams, in a business turnover of 804 lots.
The yellow metal for delivery in far-month December too rallied by Rs 225, or 0.75 per cent, to Rs 30,213 per 10 grams in 13 lots.
Analysts attributed the rise in gold prices at futures trade here to a firming trend overseas where it hit 10-month high on escalating geopolitical tensions after North Korea's latest nuclear test drove investors towards the safe-haven assets.
(With PTI Inputs)