Gold takes gain forward, up Rs 232 on global cues

New Delhi: Continuing its winning run, gold prices rose by another Rs 232 to Rs 31,922 per 10 gram in futures trade today amid a firm global trend. At the Multi Commodity Exchange, gold for delivery in far-month October was trading higher by Rs 232 or 0.73 per cent to trade at Rs 31,922 per 10 gram in a business turnover 18 lots.

On similar lines, the yellow metal for delivery in August gathered another Rs 224 or 0.71 per cent to Rs 31,625 per 10 gm in 863 lots.

Analysts attributed persistent rise in gold prices at futures trade to a firming trend overseas where gold surged for a second day as shock waves continued to reverberate through financial markets following the Britain’s vote to exit the European Union, boosting demand for safe haven assets.

In a deadly blow to the 28-nation bloc, Britain on Friday voted to leave the EU, forcing Prime Minister David Cameron to announce resignation in the wake of defeat in the referendum whose result triggered a panic reaction in world markets.

Meanwhile, gold climbed 1.5 per cent to USD 1,335.55 an ounce in Singapore.

The metal was propelled as high as USD 1,358.54 on Friday to a level not seen since March 2014, and the 8.1 percent gain was the biggest intraday jump since 2008.