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This is an archive article published on August 12, 2010

Gold spikes to Rs 18,568 per ten gram

Gold prices rose by Rs 28,or 0.15 per cent,to Rs 18,568 per ten gram in futures market.

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Gold prices rose by Rs 28,or 0.15 per cent,to Rs 18,568 per ten gram in futures market on Thursday,as speculators continued to enlarge their positions,driven by pick up in demand.

Firming trend in global markets also influenced the trading sentiment.

At the Multi Commodity Exchange counter,gold for February rose by Rs 28,or 0.15 per cent,to Rs 18,568 per ten gram,with an open interest of 614 lots.

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Similarly,the metal for delivery in October-month gained Rs 24,or 0.13 per cent,to Rs 18,405 per ten gram,with an open interest of 8,908 lots.

Marketmen said speculators enlarged their positions on pick up in demand in the spot market,led to a rise in gold prices at futures trade.

Meanwhile,gold rose by USD 1.90 to USD 1,199.80 an ounce in Asian region.

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