Quick view

Gold, silver surge on global cues

Gold prices surged at the domestic bullion market on Wednesday on stockist and investors offtake amid firm local buying due to ensuing festivities on the backdrop of sharp global rally. Silver also spurted on heavy speculative demand owing to good industrial buying. "The US elections and the subsequent results over president Obama win had reinforced his economic policy and investor's sentiment in yellow metal', dealers said. Standard gold (99.5 purity) shot-up by R405 per 10 gram to end at R31,180 from Tuesday's closing level of R30,775. Pure gold (99.9 purity) climbed by R410 per 10 gram to finish at R31,320 from R30,910. Silver ready (.999 fineness) zoomed by R1,050 per kg to close at R60,775 compared with R59,725 previously. In Europe, gold jumped on weak dollar amid President Barack Obama's re-election bolstering the hopes over continuation of easy monetary policy.

MCX ties up with Bloomberg

Leading commodity bourse Multi-Commodity Exchange of India (MCX) on Wednesday said it has adopted the Bloomberg Global Identifier across all MCX-traded contracts on its website. For lowering data management cost and promotion of transparency, Multi-Commodity Exchange of India joins a number of exchanges globally in supporting Bloomberg's Open Symbology. The exchange will display Bloomberg's global ID protocol for all MCX-traded contracts on website www.mcxindia.com. In addition, real-time pricing from MCX is tracked on Bloomberg Professional Service.

ALSO READ

Resilient in comeback: Gold heads for 4% weekly gain despite profit-booking

Centre to take call on sugar decontrol before Budget

DGH to invite bids for seven CBM blocks under fifth round of auction

Is gold’s bull-run over after 12 years of gains?