Breaking News

You are here » Indian-Commodity  :  Commodities  :  Gold Continues To Hit Record Highs For Fifth Straight Session

20-Apr2011

Gold Continues To Hit Record Highs For Fifth Straight Session

Gold prices continued to hit record high levels for the fifth straight sessions on Tuesday, but settled just shy of $1,500 an ounce level for the second successive day. The yellow metal prices shot up as investors came running to take shelter under the safe haven after S&P`s revision of US outlook to negative and its warning to cut the prized AAA rating while the wilt in US dollar too supported the downside in the later part of the session. However, some position squaring amid improvement in risk appetite of the investors pared initial gains partially and trimmed the gains in bullion prices.

Gold futures for June delivery added $2.20 higher to $1,495.10 an ounce, after hitting the highest level of $1,500.5, on the Comex division of the New York Mercantile Exchange, whereas the spot gold prices eased $1.20 to $1,494.70 an ounce.

Related News

View all news

BT Cotton Seeds Businesses Targeting Earnings Of Rs 700 Crore This Season

BT Cotton seeds organizations are targeting earnings of Rs 700 cr this season as a result of a rise ......

Gold Challenges To Maintain Earlier Increases As The Problems In Europe Prolongs

Gold prices surrounded reduce on Monday because the euro solved their deficits in opposition to the ......

Copper Seems To Lengthen Uptrend As Dollar Recoils

Copper rates were able to lengthen the uptrend for 3rd instantly period on Monday, as traders proved......

Top News

View all news

IRB Infrastructure's arm achieves financial closure for Vadodara-Mumbai Expressway project

IRB Infrastructure Developers' Wholly-owned Subsidiary (SPV) -- VK1 Expressway has achieved financial closure for the project of construction of eight lane Vadodara Kim Expressway from Km 355.00 to Km......

Havells India reports 4% rise in Q2 net profit

Havells India has reported results for second quarter ended September 30, 2018.The company has reported 4.44% rise in its net profit at Rs 178.62 crore for the quarter under review as compared to Rs 171.02......

Mphasis reports 37% rise in Q2 consolidated net profit

Mphasis has reported results for second quarter ended September 30, 2018.The company has reported a rise of 9.42% in its net profit of Rs 188.94 crore for the quarter under review as compared to Rs 172.67......