Gold futures hits record of Rs 23,465 on global cues

Gold futures prices hit a new record highof Rs 23,465 per 10 grams on Thursday, buoyed by a firming trend in globalmarkets. Also, firm spot markets demand supportedthe uptrend in gold futures prices.

At the Multi Commodity Exchange, gold fordelivery in October climbed Rs 269, or nearly 1.1 per cent, to Rs 23,465 per 10grams, with a business turnover of 10 lots.

Similarly, the metal for delivery in Augustgained Rs 15, or 0.07 per cent, to Rs 22,935 per 10 grams, with an openinterest of two lots.

Analysts attributed the rise in goldfutures prices to a firming trend overseas, where the metal climbed to a recordhigh as concerns about Europe's debt crisisspurred demand for the metal as an alternative investment.

"Global factors have driven rally ingold prices which may continue for some more sessions in futures tradehere", Rakesh Anand, a market analyst, said.

In the national capital, gold prices hadshot up by Rs 240 to Rs 23,050 per 10 grams in Wednesday's trade.

Meanwhile, gold rose by 0.50 per cent to anall-time high of $1,589.80 an ounce in Asian region.