Trading of gold futures spikes in Korea

Gold futures contracts in Korea have increased sharply this year on expectations that gold prices will rise further down the road, the bourse operator said Thursday, according to the Yonhap News.



The trading volume of gold futures amounted to 1,664 contracts as of Nov. 23, already surpassing last year`s 1,267 contracts, the Korea Exchange said. Transactions reached 67 billion won ($57 million), compared with last year`s 39 billion won worth of contracts.



Gold finished at an all-time high of $1,187 per ounce on the New York Mercantile Exchange Wednesday.