Gold Takes Gains Forward, Up Rs 232 on Global Cues
Gold Takes Gains Forward, Up Rs 232 on Global Cues
While Britain's decision of Brexit has triggered a panick reaction in world markets, the gold prices continue to accent in futures trade.

New Delhi: Continuing its winning run, gold prices rose by another Rs 232 to Rs 31,922 per 10 gram in futures trade on Monday amid a firm global trend at the Multi Commodity Exchange, gold for delivery in far month October was trading higher by Rs 232 or 0.73% to trade at Rs 31,922 per 10 gram in a business turnover 18 lots.

On similar lines, the yellow metal for delivery in August gathered another Rs 224 or 0.71% to Rs 31,625 per 10 gm in 863 lots.

Analysts attributed persistent rise in gold prices at futures trade to a firming trend overseas where gold surged for a second day as shock waves continued to reverberate through financial markets following the Britain's vote to exit the European Union, boosting demand for safe haven assets.

In a deadly blow to the 28 nation bloc, Britain on Friday voted to leave the European Union, forcing Prime Minister David Cameron to announce resignation in the wake of defeat in the referendum whose result triggered a panic reaction in world markets.

Meanwhile, gold climbed 1.5% to $1,335.55 an ounce in Singapore.

The metal was propelled as high as $1,358.54 on Friday to a level not seen since March 2014, and the 8.1% gain was the biggest intraday jump since 2008.

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