Capital Market / 17:33 , May 14, 2010
Gold futures rallied to hit fresh all time high near $ 1250 levels as ongoing worries about financial stability in Europe boosted the safe-haven appeal of the precious metal.
Gold for June delivery rose $16.90 to $1,246.10 an ounce in electronic trading on Globex. It earlier hit an intraday high of $1,249.70 an ounce.
On Wednesday, June gold futures surged to end at a record high of $1,243.10 an ounce.The second round of losses in the US markets further triggered losses in the risky assets and gains in gold.
U.S. stock futures pointed to a weaker start Friday ahead of a wave of economic data, with early concerns focused on European debt burden and the legal troubles of the world's top banks.
The single currency fell to 17-month low against the U.S. dollar, as a report that France's president had threatened to pull his nation out of the euro zone rekindled worries about financial stability in Europe.
MCX June gold futures surged to as high as Rs 18339 per 10 grams. It recently traded at Rs 18306 up nearly Rs 270 per 10 grams.
The U.S. sees a busy day for economic releases, with retail sales and industrial production for April, business inventories for March and the University of Michigan's consumer sentiment for May.
Gold futures rallied to hit fresh all time high near $ 1250 levels as ongoing worries about financial stability in Europe boosted the safe-haven appeal of the precious metal.
Gold for June delivery rose $16.90 to $1,246.10 an ounce in electronic trading on Globex. It earlier hit an intraday high of $1,249.70 an ounce.
On Wednesday, June gold futures surged to end at a record high of $1,243.10 an ounce.The second round of losses in the US markets further triggered losses in the risky assets and gains in gold.
U.S. stock futures pointed to a weaker start Friday ahead of a wave of economic data, with early concerns focused on European debt burden and the legal troubles of the world's top banks.
The single currency fell to 17-month low against the U.S. dollar, as a report that France's president had threatened to pull his nation out of the euro zone rekindled worries about financial stability in Europe.
MCX June gold futures surged to as high as Rs 18339 per 10 grams. It recently traded at Rs 18306 up nearly Rs 270 per 10 grams.
The U.S. sees a busy day for economic releases, with retail sales and industrial production for April, business inventories for March and the University of Michigan's consumer sentiment for May.
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