Shinning Bright: Gold prices rise by Rs 990, highest in 11 months

The gold prices on Friday rose by Rs 990 to Rs 31,350 per 10 grams over global cues. This has been the highest price in 11 months. 

The increase in sales by local jewellers also boosted the gold price. The yellow metal had lost Rs 240 in last two days. At international front, gold hit the highest in over a year after the US jobs data got release, which was much weaker than expected. The escalating tension between North Korea and US also catered to high price as investors ran towards safe haven assets. 

At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs. 98 or 0.32 per cent at Rs. 30,380 per 10 gram. The metal for delivery in far-month December also was up by Rs. 67, or 0.22 per cent to Rs. 30,511 per 10 gram.