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MCX gold turnover dips after hitting record high on Wed

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BS Reporter Mumbai
Last Updated : Feb 05 2013 | 3:06 AM IST
After reaching a milestone on the Multi Commodity Exchange (MCX) on Wednesday, the turnover of gold futures declined on Thursday to Rs 7,211 crore. The open interest was 15,687 kg.
 
On Wednesday, the total turnover across all gold and mini gold contracts was cumulatively recorded at Rs 10,802.84 crore, approximately 81 per cent of the exchange's turnover of the day.
 
The exchange breached its own record of Rs 9,094 crore set on April 20, 2006.
 
The turnover was given a push by a huge appreciation in gold prices across the globe. In 2007, the metal shot up 48 per cent in dollar terms from $640.75 an ounce to around $900 an ounce. It jumped 22 per cent in rupee terms from Rs 9,210 per 10 grams to Rs 11,200 per 10 grams during the year.
 
The total trade volume was recorded at 96,251 kg while open interest remained at 15,449 kg on the record-setting day. A total of 85,311 trades were executed in gold contracts on the exchange.
 
Bullion turnover in the morning session of Wednesday was at Rs 5,624.28 crore, comprising gold contracts worth Rs 4,077.39 crore and silver contracts of Rs 1,546.89 crore.
 
Gold contract volumes were 36,322 kg, while the open interest (OI) was 15,894 kg.
 
The exchange has six bi-monthly forward contracts of gold and three futures contracts of gold mini.

 
 

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First Published: Jan 19 2008 | 12:00 AM IST

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