Gold futures surged above $930 an ounce Friday as a record high in crude oil, persistent weakness in the U.S. dollar and a recent plunge in the U.S. stock market encouraged investment demand for the precious metal. Gold for August delivery rallied $16.20 to end at $931.30 an ounce on the New York Mercantile Exchange. The precious metal posted a weekly gain of $27.60 from last Friday's closing level of $903.70.
MCX Gold August expiry closed the session at Rs 12871 per 10 grams. The next target for Gold will be 13 k when it resumes its journey with COMEX on Monday. Today’s session is expected to be less volatile.
Crude-oil futures climbed to a fresh record of nearly $143 a barrel in Friday afternoon on NYMEX, a weekly gain of more than 5%.
MCX Gold August expiry closed the session at Rs 12871 per 10 grams. The next target for Gold will be 13 k when it resumes its journey with COMEX on Monday. Today’s session is expected to be less volatile.
Crude-oil futures climbed to a fresh record of nearly $143 a barrel in Friday afternoon on NYMEX, a weekly gain of more than 5%.
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