MUMBAI (Commodity Online): Gold prices surged sharply in the domestic futures market in accordance with the firming global sentiments on Thursday. Gold futures are seen near to the $1000 marks in the global market.
MCX Gold futures December contract struck the high of Rs 15663 per 10 grams up Rs 137. Same was off late seen quoting at Rs 15641. A break of the days high may give it a further bullish breakout towards Rs 15780 levels.
However international gold futures are expected to face a stiff resistance in the range of $990-993 and this may curb the gains in the domestic gold and silver prices.
COMEX Gold futures for December surged as high as $ 988.2 per ounce and were last seen quoting at $986.3 per ounce, up $7.8 per ounce.
Trading platform that even a 5 year old can trade. Join nowGold is at their highest point, with prices moving above important technical chart levels and a weaker dollar. Gold opened at 15191 and quickly rallied on strong investor demand, finding resistance near 15280.
It ticked sideways within a range on light trading during the London fix. As the session progressed the metal became well bid once again, triggering stops, peaking at 15546. It retreated marginally as the day unwound, finally settling at 15519.
