9/22/2010 07:16:00 PM
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MCX News
Gold prices - both in the spot and futures market - touched a new record high in the international market on Wednesday as investors continued to seek refuge in the precious metal after the Federal Reserve warned of deflation and a slowing recovery.
Gold for immediate delivery advanced to US$1,295 an ounce before trading at US$1,293 as against the previous close of US$1,287.Gold for December delivery hit an intraday high of US$1,295.80 an ounce in electronic trading on Globex. Gold had traded around US$1,273 an ounce on Globex before the Fed’s announcement in Washington on Tuesday afternoon.
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NCDEX NEWS
Chana prices rose by Rs 13, to Rs 2,095 per quintal in futures trade today, as speculators enlarged their positions on rising demand in spot markets, driven by marriage and festive season.
At the Multi Commodity Exchange counter, chana for October-month contract rose by Rs 13, or 0.62 per cent, to Rs 2,095 per quintal, with a business volume of nine lots.
Traders said fresh positions created by speculators following rise in demand in the spot market for marriage and festive season mainly pushed up chana prices in futures trade.
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