Last Updated :
19 August 2008 at 10:35 IST
Gold back above $800 on speculation
Commodity Online
NEW YORK :
Gold bounced back on Monday and hit above $800 an ounce on speculation investors and jewelers will purchase cheaper supplies of the metal after US dollar consolidated recent gains.
Gold futures for December delivery rose $13.60, or 1.7%, to $805.70 an ounce on the Comex division of the New York Mercantile Exchange.
Gold's decline last week was the biggest for a most-active contract since February 25, 1983. The price has fallen 22% from a record $1033.90 reached on March.
Silver futures also settled higher on a short-covering bounce. Comex December
Silver rose US28.7c to $US13.217 an ounce.
Meanwhile,
Platinum and
Palladium futures settled higher on US dollar weakness and commercial demand. Nymex October platinum rose $5.70 to settle at $1393.90 an ounce, while September palladium on the exchange gained $2.10 to finish at $286.90 an ounce.
MCX BARLEY 20 February 2012
contract was trading at
Rs 1141.2 . What's your view on it?
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